Success of the 2nd edition of the Business Afterwork of the Embassy of Côte d'Ivoire in Austria: Côte d'Ivoire highlights its agro-industrial potential

 

Vienna, June 27, 2024 - The Embassy of Côte d'Ivoire in Austria organized the second edition of the Business Afterwork event, on the theme: “Agro-industrial sector: Discover the potential, invest with confidence, Côte d'Ivoire is waiting for you!”, in Vienna (Austria).

This event, held in collaboration with Y.H Consulting and the African Diaspora Youth Forum in Europe (ADYFE), brought together over 60 participants, representatives of the Austrian public and private sectors, international organizations and members of the diplomatic corps to explore investment opportunities in Côte d'Ivoire's agro-industrial sector.

 

After an introductory speech by Ms Laure TCHICAYA, Economic and Trade Promotion Advisor, Embassy of Côte d'Ivoire in Austria, H.E.M. Yacouba CISSE, Ambassador of Côte d'Ivoire to Austria, opened the event by underlining the significant place occupied by Côte d'Ivoire within ECOWAS and in Africa in general, both politically and economically, as well as the assets of its agro-industrial sector. 

 

H.E. Philbert Abaka JOHNSON, Ghana's Ambassador to Austria, Chairman of the Group of African Ambassadors and representative of the diplomatic corps, then took the floor to underline Côte d'Ivoire's economic leadership in West Africa. He stressed the importance of establishing processing units in Africa to increase the value of agricultural products and ensure fair remuneration for producers.

 

In a speech that left no one indifferent, Côte d'Ivoire's Minister of Trade and Industry, Dr Souleymane DIARRASSOUBA, highlighted the reforms implemented by the Ivorian government under the leadership of President Alassane OUATTARA, aimed at creating an investor-friendly environment, improving business conditions and stimulating economic growth through the private sector. He then presented a detailed overview of the country's economic performance. Indeed, since 2012, Côte d'Ivoire has enjoyed robust economic growth, with an average GDP increase of 8.2% from 2012 to 2019, despite global economic challenges. The industrial sector, particularly agribusiness, has been a significant contributor, with manufacturing accounting for 22% of GDP by 2022.

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The event highlighted Côte d'Ivoire's leading position in global agricultural production:

• The world's leading producer of cocoa and cashew nuts.

• Africa's leading producer of rubber, and a major exporter of palm oil and fruit to Europe.

These achievements underline the potential for agro-industrial development, with investment opportunities in processing and value-addition.

 

Panels enabled participants to explore specific investment opportunities in the agro-industrial sector. Representatives from UNIDO, the Ministry in charge of Industry, Côte d'Ivoire PME, Côte d'Ivoire EXPORT, CEPICI, the Austrian Federal Chamber of Commerce (WKÖ) and Austrian companies took part in fruitful exchanges.

 

The event concluded with a call to action from Ambassador CISSE Yacouba, urging Austrian and European investors to seize the vast opportunities in Côte d'Ivoire. He assured potential investors of the Ivorian government's commitment to supporting and facilitating their projects, while emphasizing the increasingly secure legal and judicial business environment. Finally, he underlined the role of the embassy in providing Austrian and European investors with the necessary information and assistance.

 

The Business Afterwork event successfully strengthened economic ties between Côte d'Ivoire, Austria and other European countries, paving the way for mutually beneficial strategic partnerships and shared growth. On their departure, participants shared a sense of optimism about the revitalization of diplomatic and economic relations between Côte d'Ivoire and Austria, and anticipation for growing opportunities in the Ivorian agro-industrial sector.​