The newly appointed Swiss Ambassador to Ethiopia is confident that his country’s economic relation with Ethiopia will gain momentum as Sika Abyssinia Chemicals Manufacturing PLC, subsidiary of Swiss Sika AG company, officially inaugurated construction chemicals production plant in the outskirt of Addia Ababa.
In an exclusive interview with The Ethiopian Herald, Swiss Ambassador to Ethiopia Daniel Hunn said that the main priority during his tenure would be bolstering the economic ties between the two countries, describing the current status as modest.
“The investment and trade volume between the two countries is relatively modest. However, I believe that Ethiopia has enormous market potential for Swiss companies and we are trying to promote the country as investment destination for Swiss investors,” he said adding, “Having over 100 million population and double digit economic growth in the last years, Ethiopia’s market can be lucrative and profitable for companies like Sika.”
The Ambassador further noted that Swiss companies will help Ethiopia’s economic ambitions and its visions of becoming middle income economy by 2025 via taking part in the investment activities.
The opining of the plant is an important step given that Ethiopia is second largest economy in the sub-Saharan Africa in terms of population and the fourth largest in terms of economic output. The local market potential is what led the company to set up the plant with fully equipped laboratory facility, said Ivo Schalder, Head of EMEA, Sika AG.
The factory produces most used construction materials in the local market, including accelerators, retarders, water reducers, plasticizers and waterproofers. It also manufactures sealing and bonding refurbishment, flooring and roofing products.
“We estimate the local construction market has a great potential for development and we are counting on the construction boom which the country is going through. In this context, Sika will provide best solutions. Sika is in the position to serve Ethiopian customer and transfer its know-how to Ethiopian construction sector,” states Sika Abyssinia General Manager, Petrisor Grindeanu .
Sika has previously been engaged in importing and distributing the products for more than ten years.