The Ethiopian Sugar Industry Group and its Cuban counterpart have signed a Memorandum of Understanding (MoU) that enables the parties to collaborate.
The MoU was signed between Ethiopian Sugar Industry Group CEO Weyo Roba and Azcuba Groupo Azukariero delegation leader Francisco Rene Lieo Martin.
According to a press release of the Ethiopian Sugar Industry Group, the MoU will enable the two parties to work in collaboration in research and development, product diversification, capacity building, technical support, and technology transfer, among others.
The MoU has also given the parties the room to look forward to other possible business modalities such as joint venture, it was learned.
During the signing ceremony, Ethiopian Sugar Industry Group CEO Weyo Roba affirmed the commitment of the Group to implement the MoU and solve the challenges the Ethiopian Sugar Industry has been facing.
Azcuba Groupo Azukariero, a Cuban government-owned sugar producing company, delegation leader Francisco Rene Lieo Marti
n said the visit he had to some of the Ethiopian sugar factories has enabled him and his entourage to witness the untapped potential the country has for the sugar development sector.
Signing of the MoU follows the recent discussion held between Prime Minister Abiy Ahmed and Cuba Vice President Salvador Valdiez Miesa.
Source: Ethiopian News Agency