ABU DHABI — 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, said Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry.
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.
The UAE and Ethiopia have seen a remarkable rise in their non-oil trade over the past 10 years, reaching 180 percent, with the total value of their non-oil trade exceeding AED34 billion (approximately US$9.26 billion) between 2013 to 2022.
In 2022 alone, the two countries recorded AED5.113 billion (approximately US$1.39 billion) in non-oil trade, more than double the figure in 2013.
Breakdown of UAE-Ethiopia trade in 2022
The UAE exported non-oil products worth AED773 million (approximately US$210.5 million) to Ethiopia, with re-exports reaching AED2.033 billion (approximately US$553.5 million), and imports totalling AED2.307 billion (approximately US$628.2 million).
Ethiopia’s top imports from the UAE included mineral oils with a total value of AED183 million (approximately US$49.8 million), raw gold at AED58 million (approximately US$15.8 million), pulses at AED48 million (approximately US$13.1 million), pre-fabricated buildings at AED38 million (approximately US$10.3 million), and iron and steel structures and parts at AED28 million (approximately US$7.6 million).
The UAE also re-exported certain goods to Ethiopia, such as automobiles (AED334 million, approximately US$90.9 million), jewellery and ornaments (AED225 million, approximately US$61.3 million), medical vaccines (AED199 million, approximately US$54.2 million), self-processing information and communication machinery (AED159 million, approximately US$43.3 million), and communication devices and equipment (AED125 million, approximately US$34 million).
The UAE’s top three imports from Ethiopia in the previous year were raw gold, meat and coffee. Raw gold imports amounted to more than AED2 billion (approximately US$544.6 million), while meat and coffee imports were valued at AED207 million (approximately US$56.4 million) and AED43 million (approximately US$11.7 million), respectively.