Ethiopia, UAE vow to strengthen economic ties

Ethiopian Day marked at Expo 2020 Dubai

ADDIS ABABA– High-level officials of Ethiopia and the United Arab Emirates (UAE) expressed desire to replicate the two countries’ strong political and diplomatic relations in the business and investment frontiers.

The above pledge came recently during the celebration of Ethiopian Day in the Expo 2020 Dubai, the world’s largest commercial event whereby 190 countries including Ethiopia are taking part.

The House of Peoples’ Representatives Speaker Tagesse Chafo on the occasion said that now ‘the door is widely open’ for UAE investors to engage in Ethiopia’s market, calling on Emirati businesses to discover his country’s investment climate.

“Marking Ethiopian Day in the Expo Dubai 2020 would have a paramount importance to seek markets for the country’s agricultural exports, and promote the wider investment opportunities among potential stakeholders. The Expo has also a paramount significance to enhance the two countries economic partnership.”

The House Speaker further noted that Ethiopia could share UAE’s success in building the economy through a concerted action of people from multi-religious and multi -ethnic backgrounds and takes its Victory of Adwa as the inspiration to overcome poverty.

Ethiopia and the UAE have strong economic relations and currently several UAE companies are operating in Ethiopia, while the two countries’ annual trade volume reached over one billion USD, Tagesse added.

Dubai Expo Director Sheikh Nahyan bin Mubarak Al Nahyan for his part said that the two country’s multifaceted relations have been thriving from time to time. Ethiopia has become UAE’s strategic trade and investment partner in the Horn of Africa.

“Ethiopia and UAE have longstanding historical relations that traces back to centuries and we further strengthen the relations so as to boost trade and investment ties so as to achieve shared benefit in the Horn. We will work together to further cement ties in multifaceted development sectors for the benefit of the people and economies of the two countries.”



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