[Ethiopia] Tameru Wondm Agegnehu law firm signs exclusive partnership with BonelliErede to tap into Italian investment
Ethiopian law firm Tameru Wondm Agegnehu has agreed an exclusive partnership with major international law firm BonelliErede. The partnership is designed to encourage inward investment by Italian and international business looking for commercial opportunities in Ethiopia.
The combined offering of BonelliErede's international expertise and Tameru Wondm Agegnehu Law Office excellence in local law will support cross-border matters including international arbitration, project finance, international taxation, M&A and anti-corruption.
The objective of the new partnership is to build a platform where international enterprises and local Government can come together and facilitate new projects across every sector. In recent weeks BonelliErede has hosted seminars in Milan, Rome, Brussels and London organized in cooperation with the Italian Embassy in Ethiopia,
UNIDO, the Italian Trade Agency and the Italian Agency for Development Cooperation to offer international investors an insight into the current investment opportunities within Ethiopian Industrial Parks and the agro-industrial sector. To mark the events, Tameru Wondm Agegnehu Law Office jointly authored a white paper entitled 'Industrial Parks in Ethiopia'.
The new partnership has also organized events in Ethiopia including a recent series of seminars hosted by the College of law at the University of Addis Ababa addressing the subject of international arbitration.
The seminars form part of a wider framework focused on the identification of potential legislative reforms that could improve international industrial and financial relations to maximize Foreign Direct Investment (FDI).
Tameru Wondm Agegnehu Law Office commented on today's announcement saying, "Ethiopia is undergoing an exciting period of economic development, which brings along the need for first-class legal advisory. We are proud to offer investors - together with BonelliErede - our profound domestic and international experience: our partnership is designed specifically to meet that need and we look forward the impact we can make to the commercial and economic landscape of Ethiopia."
Stefano Simontacchi, Co-managing Partner of BonelliErede and a member of the Africa Committee, commented: "BonelliErede is passionate about international development and its partnership with Tameru Wondm Agegnehu Law Office is an important milestone in a program international development. Their excellence is beyond dispute and the local insights and talent they bring coupled with BonelliErede's domestic and international footprint delivers a platform that offers significant opportunities both to the international investment community and the Ethiopian economy."
The increase of the foreign multinationals setting up operations in Ethiopia highlights the importance of this international partnership in the legal sector. Ethiopia has been named one of the top performing African countries for FDI.
In the last few years has seen a huge number of cross sector firms investing in Ethiopia including Enel Green Energy, Energy Resources, Savio, China Engineering Corporation (CEC), CGC Overseas Construction (CGCOC), China Communications Construction Company (CCCC), China Exim Bank, China Railway Group, Kilitch Drugs, Kia Motors, Bank Hapoalim, OCP Group, Maersk Oil.
Tameru Wondm Agegnehu Law Office's founder has been practicing since 1992, served as Vice President of the Supreme Court in Ethiopia between 1988 and 1991 and is considered an institution in the local legal landscape.
The leading international legal directories have always ranked them among the top law firms in the domestic Ethiopian market, with unanimous recognition from both clients and competitors alike.