EXPO INFO BELOW:
After 19 successful editions of BUILDEXPO in Kenya and Tanzania, East Africa’s largest building and construction fair now ventures into the Ethiopian market. The first edition of BUILDEXPO in Ethiopia will provide an international business platform by enabling global investment opportunities.
Ethiopia has one of the fastest growing economies in the world. The country has been registering a double-digit growth for the last twelve consecutive years. Located in the region of the Horn of Africa, Ethiopia is the 2nd most populated country in Africa. Ethiopia’s construction sector has outgrown that of its neighbours. The construction sector will grow at an annual average growth of 11.6% and will be fueled by a swell in infrastructure investments in the region. Ethiopian government reduced customs tariff significantly in the framework of creating economic liberalization. The maximum tariff came down from 230% to 35% and the minimum is 5%. The average tariff is reduced from 41.6% to 17.5%. Ethiopia has also several agreements that grant duty-free access to many countries, including European countries and the USA. Business-friendly climate, duty-free access and competitive labour costs have successfully created new investments and employment opportunities. Ethiopia is also a member of COMESA which has an access to 20 African countries.