UAE Discusses Investment Opportunities with Ethiopia

Dubai Chamber of Commerce and Industry is set to embark on its first trade mission to Ethiopia this week to discuss investment opportunities in key industry sectors of agriculture, construction and tourism. The trade mission, which will take place from May 15 to 17, forms part of Dubai Chamber’s new strategy to explore business opportunities for its members in new, untapped markets. The organisation hopes this will lead to the creation of new business networks that will enable and assist its members with expansion into new and emerging markets. These networks will also raise the competitiveness of Dubai as a leading international business hub globally.

H.E. Hamad Buamim, Dubai Chamber’s Director General, said: “During the first quarter of this year Dubai Chamber participated in 16 events around the world. We also sent two delegations, one to the Consumer Electronics Show in Las Vegas and the other to Surat in India. This third delegation visit to Ethiopia further demonstrates our commitment to exploring new markets for our members.” H.E. Abdul Rahman Saif Al Ghurair, Dubai Chamber’s Chairman, who is leading the trade mission, said that the visit offers a unique opportunity for Dubai and Ethiopian businesses to work together across a number of vital economic sectors. The Chairman said that non-oil trade between Dubai and Ethiopia has witnessed steady progress over the past couple of years. According to recent data, Dubai’s non-oil trade with Ethiopia increased by 35.9% to reach AED 1.1 billion between January and October 2011, compared to AED 829 million during the same period in 2010.

Dubai is home to 213 Ethiopian partnership companies and the country is ranked 75th on the list of Dubai’s top global trading partners. The Dubai Chamber Trade Mission to Ethiopia includes 18 Dubai-based businessmen from leading companies, who are interested in enhancing business ties in the areas of agribusiness, building materials and construction and tourism. Dubai Chamber held yesterday a pre-mission briefing session to update delegates which was attended by H.E. Mesganu Arga, Consul General of Ethiopia, who said: “Ethiopia is undergoing a rapid growth and state of transformation offering to investors and business community wide opportunities available in agriculture, agro-industry, manufacturing, mining, infrastructure development, tourism and hospitality.”

The UAE-Ethiopia Business Forum is being on May 16 as part of the trade mission and will feature keynote addresses by H.E. Tadesse Haile, Ethiopian State Minister of Industry, H.E. Dr. Yousef Al Sabri, UAE Ambassador to Ethiopia, H.E. Al Ghurair, H.E. Mulu Solomon, President, Ethiopian Chamber of Commerce & Sectoral Associations, H.E. Ayalew Zegeye, President, Addis Chamber of Commerce & Sectoral Associations, H.E. Buamim, H.E. Dr. Elham Mahmoud Ahmed Ibrahim, Commissioner for Infrastructure & Energy, African Union Commission, H.E. Mohammed Saeed, Acting Director, Ethiopian Investment Agency, and Mr. Zemedeneh Negatu, CEO, Ernst & Young Ethiopia.