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This African Country Set to Become UAE's Gateway to the Continent

11:54, 21 August 2023

Maxim Grishenkin

Writer

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Last year, the UAE president emphasized the depth of relations between the UAE and African countries and the importance of developing these ties in various fields, including culture and economics.

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Ethiopia could become an essential channel for Emirati exports and re-exports across the African continent, UAE Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi told local media.

The minister noted that the Middle Eastern country's leadership is prioritizing the enhancement of relations with Africa.

"UAE’s leadership had directed the country to strengthen its relations with African nations, especially Ethiopia," he said as quoted by the Emirati media. "Ethiopia also plays a vital role in the stability and development of the African continent."

Moreover, the UAE and Ethiopia have a solid foundation for developing mutual trade, given their "friendly relations" and the variety of goods and services they can offer each other, Al Zeyoudi added.

The bilateral base covers investments in chemicals, food and beverages, aluminum and pharmaceuticals. According to the minister, the bilateral investment and trade links can be elevated to new levels.

"The UAE values its trade and investment ties with Ethiopia and wants to take them to new heights, as Ethiopia is a key trade partner in Africa and a promising place to invest, with many opportunities in its fast-growing emerging economy," Al Zeyoudi remarked.

He cited statistics on bilateral trade, according to which non-oil goods worth $1.4 billion were traded between the two countries in 2022, while the UAE invested $2.9 billion in Ethiopia.

In 2022, the UAE's non-oil exports to the East African country amounted to $210.3 million, showing a year-on-year surge of 4.5%, Al Zeyoudi added.

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The minister's remarks followed a meeting between Ethiopian Prime Minister Abiy Ahmed and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Addis Ababa to build stronger bridges "for the benefit of both peoples and for the future generations."

Following bilateral talks on Friday, Ethiopia and the UAE signed 17 treaties to enhance cooperation.

President Sheikh Mohamed bin Zayed Al Nahyan last visited Ethiopia in June 2018, two months after Abiy Ahmed took over as prime minister of the East African nation.