On June 29, the Hub signed a letter of collaboration with the Ethiopia Investment Commission (EIC). EIC is an autonomous government body that works to attract foreign direct investment into Ethiopia. By closely coordinating efforts, the two institutions will work to increase the level of trade exports from Ethiopia to the rest of the world, particularly to the U.S. under the African Growth and Opportunity Act. The areas of collaboration include, investment promotion and policy reform, and the support of trade delegations to strengthen business linkages and capacity building. The targeted intervention sectors are agriculture and agro processing, textile and apparel, leather and leather products, and ICT.
The Hub is very excited to sign this letter of collaboration with the Ethiopia Investment Commission. This letter marks our formal engagement, which will be sector-focused and will aim to drive investment and job creation in the region, with Ethiopia as a focal point. Both our institutions have a mandate to increase investment and promote exports and this collaboration will be a significant step towards the achievement of these objectives, said the Hub's Chief of Party.