Bilateral trade ties strengthened during Dubai-Ethiopian trade mission
The Dubai Chamber of Commerce and Industry have recently hosted 31 Ethiopian government officials and business delegates, as part of the Emirate’s strategy to promote Dubai as a global business centre, while also increasing awareness for foreign direct investment opportunities.
Members of the Ethiopian delegation included, Shisema Gebresilassie, head of Addis Ababa City Government Trade and Industry Development Bureau, Getachew Regasa, secretary general, Addis Ababa Chamber of Commerce and Sectorial Associations, who were greeted by Atiq Juma Nasib, senior vice president, commercial services sector, Dubai Chamber and forty members of Dubai’s private sector. Ethiopia is becoming one of the most stable and preferred investment destinations in the world thanks to the generous investment incentives introduced by the government and the five-year growth and transformation plan transforming the agriculture dominated economy into industry
In his opening address, Nasib addressed the long standing cooperation between Dubai and Addis, stating; “Over the years there have been numerous visits and exchanges by high level Dubai Chamber and Addis Ababa Chamber officials which have strengthened the long serving ties between our two business destinations and this latest visit will help us highlight Dubai’s position as a safe and stable hub, besides strengthening African and Emirati ties.
“On its part, Dubai Chamber is actively seeking ways to develop mutually beneficial business relations with key global partners. The markets of Eastern and Southern Africa are important to us. They have strong potential across a number of industry sectors, particularly trade and tourism.
“This is why we opened our second international office in Addis Ababa in 2013, to bring our business communities closer together and to increase two-way business and investment between our two destinations.” Related article Bridging UAE liquidity to Africa’s powerhouse economy
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In 2014 non-oil trade between Dubai and Ethiopia was valued at $476 million, making the east-African nation Dubai’s 78th largest trade partner in value.
Speaking on behalf of Addis Ababa City Government Trade and Industry bureau, Gebresilassie said, “Ethiopia is becoming one of the most stable and preferred investment destinations in the world thanks to the generous investment incentives introduced by the government and the five-year growth and transformation plan transforming the agriculture dominated economy into industry. The active participation of local and foreign private sector, especially from Turkey, India, China and the Middle East confirms the country’s march towards economic growth.”
Ethiopia is becoming one of the most stable and preferred investment destinations in the world thanks to the generous investment incentives introduced by the government and the five-year growth and transformation plan transforming the agriculture dominated economy into industry