Ethio-Israel economic cooperation bearing fruits: official

The ongoing cooperation between Ethiopia and Israel in areas of trade, investment and tourism promotion is showing "encouraging improvement," officials said Saturday.

Fasil Meles, an official from Ethiopia's Foreign Ministry, told journalists that the volume as well as the diversity of goods Ethiopia exports to Israel has been increasing following the cooperation agreements signed between the two countries.

Fasil said agricultural products, such as sesame, coffee, cereals, spices and leather products, among others, are the major items Israel imports from Ethiopia.

Sesame takes the lion's share of Ethiopia's export to Israel, Fasil said, adding that revenue, generated from the particular produce, amounts to an average of 22 million U.S. dollars annually.

The trade balance between the two countries is in favor of Ethiopia, Fasil said. That is because of the presence of Ethiopian Jews in Israel who consume Ethiopian products.

He said Ethiopia is undertaking aggressive investment promotion works through various ways.

Fasil said some 45 Israeli investors have traveled to Ethiopia to launch investment activities, owing much to the country's promotion activities.

He said an average of 3,000 Israeli tourists travel to Ethiopia annually.

Fasil said there is still a lot to be done to expand tourism in Ethiopia, adding that Ethiopia is working out on a tourism strategy that caters for the needs of Israeli tourists.

Source: Xinhua