UAE Minister of Economy, Al Mansouri Heads Commercial Delegation to Ethiopia

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Al Mansouri: “Visit aims to strengthen mutual cooperation across diverse sectors”

Dubai-UAE: 17 March, 2014 – His Excellency Sultan Al Mansouri, UAE Minister of Economy, is leading a high-level delegation to Ethiopia aiming to build on the partnership agreement signed between the two countries towards strengthening bilateral cooperation in trade and investment.

The agreement inked in 2013 led to the formation of a joint committee for cooperation in economic, political and social sectors and the opening of a representative office for the Dubai Chamber of Commerce and Industry in Ethiopia.

The UAE delegation includes His Excellency Abdullah Bin Ahmad Al Saleh, Undersecretary of the Ministry, Foreign Trade Sector, His Excellency Omair Al Dhaheri, member of the Abu Dhabi Chamber of Commerce and Industry , as well as representatives from the Department of Economic Development in Abu Dhabi, Abu Dhabi Chamber of Commerce and Industry , Dubai Chamber of Commerce and Industry , and private sector companies such as Mubadala, Gulfar, Al Jaber Aluminum and Agthia Group.

The two-day visit from 19 – 20 March will include a number of official meetings with representatives from the government of Ethiopia and events including the Emirati – Ethiopian Business Forum. Held in cooperation with the UAE Embassy in Addis Ababa and the Department of Economic Development in Abu Dhabi, the business forum will gather senior government officials and entrepreneurs from the two countries. Heads of Emirati companies will also meet with their Ethiopian counterparts on the sidelines of the event to discuss collaboration opportunities.

Speaking on the eve of the UAE delegation’s departure to Ethiopia, His Excellency Sultan Al Mansouri said: “Ethiopia enjoys rich natural resources and offers promising opportunities for investment in a number of sectors such as infrastructure, oil, gas, tourism, and the hospitality and food industry. We are looking to make headway on a number of investment projects that serve the interest of both the countries.

“We also aim to leverage the trip to highlight the enabling regulatory environment that the UAE provides for trade and investment as part of its priority to diversify the national economy. We will also share the obvious advantages of investing in the UAE that enjoys a strategic location as a regional gateway and offers advanced infrastructure and other assets that position us as an international trading hub.”

The Minister added: “Our visit to Ethiopia will help the UAE further its ambition of gaining a stronger trading partner in the African continent. Ethiopia holds special significance for us given the synergy we continue to enjoy with the country.”

Al Mansouri articulated the commitment of the Ministry of Economy in driving UAE exports through leveraging the partnerships it shares with many countries. The Ministry of Economy seeks to reinforce the competitiveness of the country’s products and services, and further advance the burgeoning exports sector.

The UAE’s investments in Ethiopia are estimated at US$3 billion, concentrated mainly in tourism and hospitality sectors. The trade volume between the two countries has reached one billion US dollars in 2012.