ADDIS ABABA, ETHIOPIA – UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the historical relations between the two countries have witnessed remarkable progress over the past few years.
This reflects the distinguished friendship between the leaderships of the two countries, and the exchange of visits and meetings between President Sheikh Mohamed bin Zayed Al Nahyan and Dr. Abi Ahmed, Prime Minister of Ethiopia. These visits have helped in the expansion of cooperation in various fields and levels, which have enhanced relations and progress between the two nations.
Al Rashidi said in a statement to the Emirates News Agency (WAM), “The UAE is one of the key trading partners of Ethiopia, and trade exchange has witnessed steady growth in the past few years.”
He said, “The Ethiopian Ministry of Trade estimates indicate that the volume of trade exchange between the two countries amounted to US$6 billion.”
He added that the number of UAE investment projects in Ethiopia is estimated at over 113.
Al Rashidi said, “The UAE and Ethiopia are cooperating in renewable energy, which is an area of common interest for the two countries, especially since the UAE is a major international leader in the field of clean energy.”
The Ethiopian government seeks to implement its strategy to develop its renewable energy sector and the Abu Dhabi Future Energy Company (Masdar) signed a joint development agreement with the Ethiopian government in January 2023 in Abu Dhabi to develop two solar power plants with a combined generating capacity of 500 megawatts.
Masdar previously signed a similar agreement with the Ethiopian government in March 2021 in Addis Ababa to develop solar energy projects in multiple locations in the country, advancing their efforts to diversify energy sources and achieve economic growth.
Al Rashidi emphasized that Ethiopia is a key investment partner for the UAE in East Africa, as it has a large and emerging consumer market of over 100 million people, and enjoys diverse resources and economic potential in several sectors such as health, clean energy, technology, communications and others.
Ethiopia has also become an attractive destination for foreign investment, as UAE companies have undertaken 113 investment projects in the country, with growing interest on the part of UAE companies to invest in the country in sectors related to food security, agriculture, livestock and logistics.
He said that the UAE is also a strategic partner for Ethiopia in its efforts to achieve growth and relief and humanitarian organisations contribute to efforts for implementation of many development activities and programs in the African country.
The UAE is supporting and financing small and medium projects in the country and is providing scholarships for Ethiopian students to study in the Emirates universities.