Addis Ababa — Ethiopia's high-level delegation, headed by President Taye Atske Selassie, actively engaged in the 17th U.S.-Africa Business Summit and conducted several bilateral meetings, meaningfully advancing the nation's economic diplomacy, according to the Ministry of Foreign Affairs.
The U.S.-Africa Business Summit, which took place in Angola and attracted over 2,000 attendees for a couple of days, concluded on Wednesday.
The summit helped Ethiopia strengthen its economic diplomacy, which aligns with its homegrown economic reforms, Ambassador Zerihun Abebe, general director of African affairs at the Ministry of Foreign Affairs told the Ethiopian News Agency.
He stated that President Taye, who led the Ethiopian delegation, had successful bilateral discussions at the summit.
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Accordingly, President Taye held bilateral discussions with the President of Angola and current African Union chairperson, João Lourenço; the U.S. Department of State's senior advisor for Africa, Massad Boulos; and the Corporate Council on Africa's president and CEO, Florizelle Liser.
Besides President Taye, Ethiopian Investment Holdings (EIH) CEO Brook Taye and Ethiopian Investment Commission Commissioner Zeleke Temesgen participated in different discussion platforms at the summit.
According to the ambassador, such discussion platforms have provided an opportunity for Ethiopia to introduce its business and investment opportunities, as well as its sectors' policies, and reflect on how the U.S.-Africa summit should look.
He noted that the signing of the memorandum of understanding between Ethiopian Investment Holdings and U.S. International Finance Partners is a good move toward strengthening the Ethiopian tourism industry.
The agreement included a portfolio of investments totaling over 200 million dollars, which is particularly important for driving forward national efforts to expand tourism infrastructure and develop tourism destinations.
Ambassador Zerihun noted that the participation of Ethiopian delegation in the Africa-U.S. Business Summit indicates the Ethiopian government's commitment to promoting business diplomacy in line with its homegrown economic reform framework.
Moreover, the Ambassador noted that the summit helped Ethiopia further strengthen its economic diplomacy by exploring new markets and investment opportunities, creating jobs for citizens, and attracting foreign direct investment.
This summit is unique in that it follows the U.S.'s recent decision to shift its foreign policy toward Africa from an aid-heavy model to commercial diplomacy, which includes investment and trade links and deal-making as part of America First foreign policy.
It is recalled that Ethiopia hosted the 10th U.S.-Africa Business Summit.
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