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• Dubai Chamber Representative Office in Addis Ababa organised outbound trade missionis attended by over 31 Ethiopian government officials and business delegates
• Atiq Juma Nasib: Dubai is a gateway for African entrepreneurs to international markets, including those across the Middle East, Europe and Asia
• Head of Addis Ababa City Government Trade and Industry Development Bureau: Dubai and UAE companies can benefit from Ethiopia becoming one of the most stable and preferred investment destinations in the world
Dubai - As part of its efforts to attract foreign investments to Dubai and to promote Dubai as a global business centre, the Dubai Chamber of Commerce and Industry organised a strong Ethiopian Government and business leaders' delegation through its Representative Office in Addis Ababa in cooperation with the Addis Ababa Chamber of Commerce and Sectorial Association at the Chamber head office recently.
Seeking stronger bilateral ties with the emirate, the delegation included Shisema Gebresilassie, Head of Addis Ababa City Government Trade and Industry Development Bureau, GetachewRegasa, Secretary General, Addis Ababa Chamber of Commerce and Sectorial Associations, and 31 business representatives from the Africa country.
The meeting was attended by Atiq Juma Nasib, Senior Vice President, Commercial Services Sector, Dubai Chamber, H.E. Dr.Abdulkadir Risku Ambassador Extraordinary and Plenipotentiary, Embassy of Federal Democratic Republic of Ethiopia in UAE, Amb. Tekleab K. Aregawi, Head of Dubai Chamber Representative Office in Addis Ababa, and over 40 representatives of Dubai's private sector.
In his welcome address, Nasib said, "Over the years there have been numerous visits and exchanges by high level Dubai Chamber and Addis Ababa Chamber officials which have strengthened the long serving ties between our two business destinations and this latest visit will help us highlight Dubai's position as a safe and stable hub besides strengthening African and Emirati ties.
"On its part, Dubai Chamber is actively seeking ways to develop mutually beneficial business relations with key global partners. The markets of Eastern and Southern Africa are important to us. They have strong potential across a number of industry sectors, particularly trade and tourism.
"This is why we opened our second international office in Addis Ababa in 2013, to bring our business communities closer together and to increase two-way business and investment between our two destinations," said Nasib adding that for Dubai Chamber members, Eastern and Southern Africa represents some of the highest trade volumes out of the continent.
"Dubai is a gateway for African entrepreneurs to international markets, including those across the Middle East, Europe and Asia," he said.
The Senior Vice-President of Commercial Services Sector further stressed that there is also good potential to expand trade due to Dubai's rising demands for quality food produce and Africa's need for machinery, building materials and consumer products.
He added, ''Trade is a pillar of Dubai's economy and an important indicator of our international partners. Presently, Dubai Chamber has 371 Ethiopian companies among its members while non-oil trade between Dubai and Ethiopia in 2014 valued AED 1.75 billion making Ethiopia our 78th largest trade partner with a 6% growth on the 2013 value of AED 1.66 billion."
Nasib also informed about the Chamber's organising of two Africa Global Business Forum conferences dedicated to Africa-Dubai cooperation. "We are certain that Dubai and Africa are key partners for future economic growth, and this is why Dubai Chamber is building stronger partnerships across the continent today. Later this year, we will organise the Africa Global Business Forum once again, for the third consecutive year," he said.
Thanking Dubai Chamber for its efforts to strengthen business ties between UAE and Ethiopia, H.E. Dr.Abdulkadir Risku, Ambassador Extraordinary and Plenipotentiary, Embassy of Federal Democratic Republic of Ethiopia in UAE, said that the bilateral relations between the two countries flourished after the opening of Dubai Chamber's representative office in Addis Ababa as he expressed his country's openness to attract UAE investments to the most promising sectors of the its economy.
The UAE can benefit from Ethiopia's agricultural and organic products, and halal food investments while his country can take advantage of the UAE's expertise in developing different economic sectors in light of the enormous investment opportunities, growing economic dynamism, peace and stability enjoyed by his fast-growing country.
In his keynote address, Shisema Gebresilassie, Head of Addis Ababa City Government Trade and Industry Development Bureau, stated that Ethiopia has historical ties with the Arab and Islamic world and the diplomatic relation of Ethiopia with the UAE is one of the strongest in the region.
"Ethiopia is becoming one of the most stable and preferred investment destinations in the world thanks to the generous investment incentives introduced by the government and the five-year growth and transformation plan transforming the agriculture dominated economy into industry. The active participation of local and foreign private sector, especially from Turkey, India, China and the Middle East confirms the country's march towards economic growth," he said.
Highlighting the purpose of the visit to strengthen trade relations and to keep the strong momentum of FDI flow into the manufacturing sector of Ethiopia, Gebresilassie called upon UAE companies to make the most of this meeting to discuss joint ventures as he also encouraged the local attendees to invest in his country's hotel and tourism sector as well as large-scale farming and in the supply of construction and finishing equipment.
Pointing at Ethiopia's exports to the UAE which included meat, dried beans, vegetables and flowers, and imports from the UAE includingpetroleum oils and machinery, he said there is still a lot to be done from both sides to exploit the untapped potential.
In his presentation on trade and investment opportunity in Ethiopia, GetachewRegasa, Secretary General, Addis Ababa Chamber of Commerce and Sectorial Associations, informed that the real GDP growth of Ethiopia averaged 10.9% during 2004-2013.
Regasa highlighted the areas of investment opportunities including manufacturing of textiles and garments, leather, chemical, pharmaceutical, engineering, and metal fabricated products, processing of fruits and vegetables, oil seeds, manufacturing of sugar, animal feed, and malt.
He also stressed on agricultural opportunities in sugarcane plantation, horticulture, floriculture, rubber tree plantation, fibre crop, cotton, jutes, animal husbandry and market opportunities with a domestic market of close to 90 plus million people and availability of efficient and reliable passenger and cargo services and a highly industrious labour force.
A Dubai Chamber presentation provided the visitors with anoverview of the emirate's achievements and its ambitious strategies and projects with an economic outlook for 2015 as well as the achievements, lucrative initiatives and added-value services offered by Dubai Chamber to global businesses and investors to set up shop in the emirate.
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About Dubai Chamber of Commerce & Industry
Established in 1965, Dubai Chamber of Commerce & Industry is celebrating its milestone anniversary of 50 years empowering vision in Dubai's business community. A non-profit public entity, Dubai Chamber supports Dubai's vision as a global player by empowering businesses, providing innovative value added services and access to influential networks. Its mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
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© Press Release 2015
