Ethiopia, UAE Eye Strong Bilateral Economic Cooperation

ADDIS ABABA – Ethiopia and the United Arab Emirates (UAE) signed a raft of agreements on a number of fields after their leaders held talks over enhancing bilateral ties through sustainable development initiatives on Friday.

UAE President Sheikh Mohamed bin Zayed Al Nahyan is on an official visit to Ethiopia as part of efforts to strengthen bilateral cooperation.

Prime Minister Abiy Ahmed and a high-level delegation accorded a warm welcome to the UAE President upon his arrival at Addis Ababa Bole International Airport.

Later, Abiy and Al Nahyan held a bilateral meeting, during which both leaders acknowledged the ever-strengthening ties between Ethiopia and the UAE.

They also expressed commitment to build stronger bridges for the benefit of both peoples, the PM Office says.

“The growing relations between our two countries is rooted in deep mutual respect and a shared vision for mutual progress,” PM Abiy said. “We will continue collaborating in pursuit of sustainable development.”

The two leaders later presided over a signing ceremony of 17 agreements involving various sectors, including industry, agriculture, investment, and finance.

The late Sheikh Zayed bin Sultan Al Nahyan and the late Ethiopian Prime Minister, Meles Zenawi, established the foundations of Emirati-Ethiopian relations.

Since then, the ties between the two countries have grown stronger, especially after the opening of the Ethiopian Consulate in the UAE in 2004, followed by the UAE Embassy in Addis Ababa in July 2010 and the Ethiopian Embassy in Abu Dhabi in 2014.

These steps have boosted the two countries’ cooperation in various fields, including political, economic, investment, and cultural spheres.

UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi told Emirates News Agency (WAM) that his country’s leadership had directed the country to strengthen its relations with African nations, especially Ethiopia.

The two countries traded non-oil goods worth US$1.4 billion in 2022, and the UAE invested $2.9 billion in Ethiopia especially in chemicals, food and beverages, aluminum, and pharmaceuticals sectors, per the Minister.

In Addis Ababa, President Al Nahyan said his latest discussion with Abiy aimed to further strengthen bilateral ties to serve the “aspirations of our peoples through economic and sustainable initiatives.”

“The UAE is committed to building bridges of cooperation that foster prosperity and stability for all,” the UAE President said in a tweet.

Per WAM, the memoranda and agreements signed between the two sides are:

– Agreement on mutual assistance in customs matters signed by Ali bin Hammad Al Shamsi, Head of the Federal Authority for Identity, Citizenship, Customs and Ports Security, and from the Ethiopian side by Debele Kabeta, Commissioner of the Ethiopian Customs Commission.

– Memorandum of Understanding (MoU) for Government Development and Modernisation Experience Exchange signed by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; and Alemtsehay Paulos, Ethiopian Minister of Cabinet Affairs.

– MoU between Abu Dhabi Ports and Ethiopia Investment Holdings signed by Mohamed Jumaa Alshamsi, CEO of AD Ports Group; and Meleket Sahlu Denbu, Deputy Chief Executive Officer, Ethiopian Investment Holdings.

– MoU between Oumlat Security Printing and Ethiopia National Bank signed by Faisal Abdulsamad Ahmed, Director of Operations at the UAE Central Bank; Mamo Mihretu, Governor of the National Bank of Ethiopia.

– MoU in the Field of Industry and Advanced Technologies signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; and Melaku Alebel, Ethiopian Minister of Industry.

– MoU between the Ethiopian Investment Commission and the Federation of Sharjah Chambers signed by Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry; and Lelise Neme, Commissioner of the Ethiopian Investment Commission.

– MoU between the Ethiopian Investment Commission and the Federation of Abu Dhabi Chambers of Commerce and Industry signed by Dr. Ali bin Harmal Al Dhaheri, First Vice Chairman of the Chamber; and Lelise Neme, Commissioner of the Ethiopian Investment Commission.

– MoU between Etihad Export Credit Insurance and the Commercial Bank of Ethiopia (CBE) signed between Raja Al Mazrouei, CEO of Etihad Credit Insurance, and President of CBE Abie Sano.

– MoU on UAE Standard for Good Delivery of Gold signed by UAE State Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi and Mamo Mihretu, Governor of the National Bank of Ethiopia.

– Letter of Intent between the Ministry of Agriculture of Ethiopia and Abu Dhabi National Oil Company (ADNOC), signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; and Dr. Girma Amente, Ethiopian Minister of Agriculture.

– MoU between Etihad Export Credit Insurance and the Development Bank of Ethiopia, signed by Raja Al Mazrouei, CEO of Etihad Credit Insurance; and Meleket Sahlu Denbu, Deputy Chief Executive Officer, Ethiopian Investment Holdings.

– MoU between Al Dahra Group LLC and the Ethiopian Investment Commission signed by Hamdan Al Darei, CEO of Al Dahra Holding LLC, and Lelise Neme, Commissioner of the Ethiopian Investment Commission.

– MoU between UAE’s TALC Investment and the Ministry of Agriculture of Ethiopia, signed by Mohammed Aldhaheri, Chairman of TALC Investment, and Dr. Girma Amente, Ethiopian Minister of Agriculture.

– MoU between DP World FZE and the Ethiopian Ministry of Transport and Logistics, signed by Mohammed Al Muallem, DP World Executive Vice President; and Dr. Alemu Sime, Ethiopian Minister of Transport and Logistics.

– Joint Statement between the UAE and Ethiopia on Climate Action.

– Roadmap between Masdar and the Ministry of Finance of Ethiopia, signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; and Ahmed Shide, Ethiopian Minister of Finance.

– MoU for cooperation in the field of combating terrorism, signed by Ali bin Hammad Al Shamsi, Secretary-General of the Supreme Council for National Security, and on the Ethiopian side by Temesgen Tiruneh, Director-General of the National Intelligence and Security Service.