MoE discusses trade, investment and tourism cooperation with Ethiopia

DUBAI / WAM

Representatives from the UAE’s Ministry of Economy and the Federal Democratic Republic of Ethiopia, have discussed the means of developing future economic ties to boost levels of trade, promote bilateral investments and encourage the UAE business sector to explore potential economic opportunities in Ethiopia, notably in commerce, industry, tourism and agricultural investment sectors.
The meeting was attended on Thursday by Abdullah Al Saleh, Under-Secretary of the Ministry for Foreign Trade and Industry Affairs, and Ayana Zewdie, Ethiopian
Minister of State for Trade.
Abdullah Saleh Al Hammadi, Head of the Tourism Department in the Ministry of Economy, and Deputy Consul-General and Head of Business Promotion at the General Consulate of Ethiopia in Dubai, also attended the meeting held at the Ministry’s Dubai headquarters.
Al Saleh highlighted the importance and strength of the economic ties between Ethiopia and the UAE. He also stated that the last few years had witnessed important events in the promotion of economic co-operation between both countries. He referred to the signing of investment protection agreement last year, as well as another agreement to avoid double taxation and many other memoranda of understanding in several sectors.
According to Al Saleh, the non-oil trade between both countries amounted to US$734 million during the first nine months of 2016, including the free zones trade, which stood at $803 million in 2015.
He stressed that the UAE investment experiences in Ethiopian agricultural, food and pharmaceutical industries encourage in widening the scope of investments to involve more sectors that have clear development
potential.
The UAE official further stressed the importance of dialogue and co-ordination between both countries to introduce investors to available opportunities in the best interest of two parties. He cited the civil aviation, tourism, agricultural investment, and industrial and infrastructure sectors as important and promising sectors for investment.
The Ethiopian minister praised the historic ties between both countries, stressing his country’s desire to promote economic ties with the UAE, and open new investment horizons between both countries in areas of investment and commerce.
He also highlighted the importance of co-operation in the meat and livestock trade industry, and of overcoming any
obstacles that may arise.