Fri 18-08-2023 20:34 PM
ABU DHABI, 18th August, 2023 (WAM) — Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, affirmed that the public and private sectors in the UAE and Ethiopia have been keen during recent years to enhance economic cooperation, which has resulted in an increase in mutual investments and intra-trade values.
Salem said there are more than 121 Emirati companies operating in the Ethiopian market, contributing to enriching relations between the two countries in the economic aspect, including Julphar Gulf Pharmaceutical Industries Manufacturers, Jenaan Investment, Masdar, Emirates Steel Arkan, DP World, Al Ghandi Auto, Al Ghurair Group, Albwardy Investment, Lootah Group, Eagle Hills Properties, and other leading Emirati companies.
He explained that the UAE Chambers Of Commerce And Industry, especially the representative office of the Dubai Chambers, have contributed in recent years to building a strong network of relations between the public and private sectors to provide Emirati and Ethiopian companies with distinguished support in the field of events and business platforms, as well as holding bilateral business meetings, identifying sources of supply and distribution and trade missions, in addition to supporting the development and promotion of business in Ethiopia.
Secretary-General Salem stressed that increased coordination between the two sides gives Emirati companies a greater impetus to invest in various sectors in Ethiopia, emphasising the attractiveness of Ethiopia’s investment in many fields, especially agriculture, pharmaceutical and cosmetic industries, as well as renewable energy, transportation, logistics and real estate and wholesale trade, in addition to retail and rental of machinery and heavy equipment.
Khoder Nashar