Yonas Abiye
13 January 2009
Addis Abeba — The American Chamber of Commerce seen as a new era in trade cooperation between Ethiopia and the US was officially launched here on Sunday in the presence of Minister of Trade and Industry Girma Birru and U.S. Ambassador to Ethiopia Donald Yamamoto.
The establishment of the chamber (AmCham Ethiopia), is believed to be instrumental in enhancing and promoting two-way trade and investment between Ethiopia and the United States of America.
Minister of Trade and Industry Girma Birru lauded the effort made to establish the chamber and expressed his government's commitment in the framework of boosting trade and investment to promote development.
He said the government would ensure a favorable business climate in the country to help it achieve its goals.
"We welcome the establishment of the American chamber of commerce here in Ethiopia," he said.
"The chamber will be an important source of business information and investment." the minister said congratulating the US ambassador and Board members of the chamber for their efforts.
Minister Girma in particular praised US Ambassador Donald Yamamoto, for his efforts in realizing the chamber in the country.
The Chamber is an upgraded version of the Ethio-American Business Association (EABA) which was established in 2003.
The credit goes to Yamamoto, " a " key actor" who primarily suggested upgrading EABCA to an American chamber of commerce.
"The chamber became true in the face of several criticisms and doubts over the certainty and the rationale of establishing one in Ethiopia, Yamamoto said.
"To those who criticize this effort, I say to them: come to Ethiopia and see for yourselves." He said.
"To those who ask 'why in Ethiopia', I say to you 'Why not'.
Yamamato said the critics were citing high inflation, unemployment and, most importantly, lack of foreign exchange as obstacles "too formidable to overcome." He said: "I say to you come to Ethiopia because it will be here that we need to strive to achieve that which seems impossible." "The establishment of an American Chamber will create a new paradigm for how we do business in Ethiopia. This is a milestone in our two countries' partnership, and it shows our commitment to a more prosperous tomorrow for all Ethiopian citizens," The Ambassador added.
The ambassador also noted that the trade volume of the two countries has shown a progress every year.
According to the ambassador, Ethiopia's export to US has reached 120 million USD while its import from the later reached 150 million.
American Chambers of Commerce Abroad (AmChams) is voluntary associations of American companies and individuals doing business in a particular country, as well as firms and individuals of that country who operate in the United States.
The American Chamber of Commerce in Ethiopia is the fourth AmCham in Sub-Saharan Africa.
Ambassador Yamamoto noted at the launch, "The fact that AmCham Ethiopia is only the fourth of its kind in Sub-Saharan Africa shows the importance that the United States places on its relationship with Ethiopia." At the launch, AmCham President Getachew Ayele, said, AmCham would foster a positive environment for the business communities in both countries.
He said the chamber would work to bring commercial relations to their full potential.
AmCham Ethiopia is a not-for-profit, non-political, independent and voluntary business membership organization registered with the Ministry of Justice of the Federal Democratic Republic of Ethiopia and affiliated with the U.S Chamber of Commerce.
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