Ethiopian President Girma Woldegiorgis said Monday Slovak investors could highly benefit from investing on rubber tree plantation in Ethiopia.

During his talks with visiting Slovakia's State Secretary of Economic Cooperation Eva Simkova at the National Palace, Girma said the efforts of the Slovak company Matador-Addis Tire to raise its products should be backed by an investment on rubber tree plantation, which is the raw material for making tire.

Matador-Addis Tire has already been running an 80 million U.S. dollars joint venture in Ethiopia's capital Addis Ababa.

Girma told the Slovakian state secretary that there is a vast land in southwestern Ethiopia which is highly suitable for rubber tree plantation.

The Ethiopian president said there are ample opportunities of cooperation between Ethiopia and Slovakia, particularly in the areas of trade and investment.

He urged Slovakia to play a leading role to promote the cause of Africa in the United Nations as it is currently an alternate member of the Security Council, which would deliberate on various issues pertaining to Africa.

Simkova told journalists after their talks that she would meet Ethiopian senior government officials, including Trade and Industry Minister Girma Birru and Finance and Economic Development Minister Sufian Ahmed during her official visit to Ethiopia.

She said her discussions with the Ethiopian ministers will focus on promoting investment cooperation and avoiding double taxation between Ethiopia and Slovakia, among others.

After the discussions, the two governments are expected to sign an agreement providing for investment protection and guarantee in a bid to boost investment cooperation between the two countries, said the Slovak official.

The government of Slovakia is due to open its embassy in Addis Ababa soon, she said.

In June last year, Ethiopian Trade and Industry Minister Girma Birru visited Slovakia, where he met senior officials of the country and discussed on issues of boosting investment relations between the two countries.

Source: Xinhua