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Ethiopian Investment Commission and the UAE Agree to Attract UAE Investments to Ethiopia

UAE and EIC Reached an Agreement

The Ethiopian Investment Commission (EIC) and the Embassy of the United Arab Emirates in Ethiopia held a discussion on strengthening investment ties between Ethiopia and the UAE. The parties raised various issues including investment promotion and aftercare services and reached an understanding to attract more UAE investments to Ethiopia.

It is to be recalled that EIC and Dubai International Chamber of Commerce agreed in January this year to form an alliance to promote Ethiopia to investors in Dubai.

Trade relations between Ethiopia and UAE within the past five years was registered to be more than USD 2.5 billion. Accordingly, Ethiopia’s export to the UAE between 2016 and 2020 was more than USD 650 million while its imports during the same period surpassed USD 1.8 billion.

Source: EIC and Ethiopian News Agency

Image source: EIC