The Norwegian government says it would allow trade preferences to Ethiopian export products for unlimited period of time. At a press conference attended by representatives of the two countries, it was mentioned that paramount importance will be given to strengthening the trade and investment relations of the two countries.
In 2012, the total trade turnover between the two countries stood at only 58 million USD.Though Ethiopia’s exports to Norway have shown some progressas of late, its imports from Norway declined to2.7 million USD in 2012 from 4.2million USD in 2004, showing a negative rate of growth by about 35%.
GashawDebebe, Secretary General of Ethiopian Chamber of Commerce and Sectoral Association (ECCSA),said during the event organized to brief businesses on the privilege the Norwegian government accorded to Ethiopian exports, strengthening the trade and investment relation of the two countries was important. It is an established fact that trade has proved to be one of the most effective tools to foster development, according to Gashaw. According to him, increased trade between and among developed and developing countries enhances reciprocal-export earnings; knowledge and technology transfer; diversified economic base and acceleration economic growth.
Processed Honey and coffee and flowers are some of the most famous Ethiopian products in the Norwegian markets.