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Addis Ababa, May 30, 2017 (FBC) -Co-organized by Ethiopian Embassy in Germany and the German-African Business
Association (Afrika-Verein), the first leg of the 3rd Ethio-German Business Day kicked off today in Hannover, Germany.

The event brought together high-level Ethiopian government officials and senior administrators of the State of Lower Saxony,
Hannover, as well as over 80 companies and representatives of businesses from both countries.

Opening the Forum, State Minister of Industry, Dr. Mebrahtu Meles, said the political, social and macro-economic stability,
the fast economic growth and its attractive investment laws has made Ethiopia a favoured destination for business and
investment.

He further briefed participants on government’s commitment to support private sector development; its competitive incentive
packages as well as the simple and transparent investment approval procedures in the country.

Touching upon the country’s targets, he said Ethiopia aims to achieve a middle-income-status country, and be the leading
country in light manufacturing sector in Africa by 2025.

Ethiopia, he said, had a “pro-poor, pro-development and pro-investment policies, “further calling on German companies to
seize the country’s huge investment and business potentials.

Kuma Demeksa, Ambassador of Ethiopia to Germany for his part said Ethiopia and Germany began their diplomatic ties back
in 1905 and ever since the bilateral relationship has been strengthened by series of frequent visits by government officials
and business delegations from both sides.

Underlining that Ethiopia and Germany have enjoyed an ever-growing economic cooperation, Ambassador Kuma said the
3rd Ethio-German Business Day will surely enhance trade, financial and commercial links between German companies and
their Ethiopian counterparts.

Lutz Hartmann, a Board Member of the German-African Business Association (Afrika-Verein) gave a detailed account of his
personal experience on investing in Africa at large and Ethiopia in particular.

He commended Ethiopia’s one-stop-service, which he said offered a significant incentive for companies seeking to start
business in the country.

Lutz Hartmann, whose company has a farming project in Ethiopia said, “It only takes you one day to set up business in
Ethiopia; It took me just a day to open accounts, get tax numbers and set up my company there; which in Europe and
elsewhere in the world would have taken me weeks.”

The 3rd Ethio-German Business Day also included key presentations in areas of trade and finance,
manufacturing/agribusiness and energy as well as government-to-business and business-to-business sessions.

According to the Ministry of Foreign Affairs, the Second leg of the 3rd Ethio-German Business Day will commence in Stuttgart
tomorrow.
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Ethio-German Business Day opens in Hannover
May 30,2017
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