Business between UAE and Ethiopia booming

Mahlet Fasil

Trade relationship between Ethiopia and countries within the United Arab Emirates (UAE) has shown huge progress over the last ten years. This was mentioned during business to business meeting between visiting officials and businesses from the UAE and their Ethiopian counterparts held at the Sheraton Addis Hotel yesterday.

According to a document by the UAE’s trade mission, Ethiopia’s export to the UAE has been increasing over the last decade.  Figures show Ethiopia’s export to the UAE jumped from 17.8 million dollars in 2002 to 89.9 million dollars in 2011. The total trade turnover has increased from 45.4 million dollars in 2002 to 809 million dollars in 2012 showing more than six fold increases in the trade relation between the two countries.

“We have strong relation with Ethiopia. Such business forums will bring the fastest economic growth in the country,” said Dr. Yousif   Eisa Hassan AL Sabri, Ambassador of the UAE to Ethiopia said.

According to Ahmed Abitew, Ethiopia’s minister of industry, Ethiopia’s double digit economy is an attractive package to work with for businesses not only in the UAE but also all Arabic countries.

For this year, 2014, the Africa trade missions headed by the UAE minister of economy with Abu Dhabi department of economic development are targeted to bring 25 UAE companies and around 50 delegates from key sectors that will seek the opportunity to enhance and strengthen the tread   collaboration perspectives, acknowledging the raise and allow sustainable growth for both UAE and Ethiopia.

UAE’s trade delegation to Ethiopia is led by UAE’s minister of economy Sultan bin Saeed Al Mansouri and is scheduled to last for four days. The Minister is scheduled to hold a series of meeting with senior Ethiopian officials including Foreign Minister Dr. Tedros Adnahom