Dubai Chamber trade mission to Ethiopia results in MoU between S.S. Lootah International, Oromia International Bank
The two organizations will work together to support the coffee industry, as well as other agricultural and livestock sectors.
“Africa is a market of strategic importance to Dubai, and Ethiopia being an ideal platform to reach out to the markets of East Africa for the emirate’s businesses looking forward to invest in the continent, Dubai Chamber launched its first international office in Addis Ababa in 2013,” Hamad Buamim, president and CEO at Dubai Chamber, said.
Buamim noted that Dubai and Ethiopia have a strong trade relationship. Ethiopia is Dubai’s 60th trade partner. Non-oil trade between the two nations has grown steadily over the years, reaching $600 million in 2015. Buamim praised the UAE embassy in Ethiopia for helping UAE investors and the trade mission reach their goals.
“For its part, Dubai Chamber has remained committed to providing the necessary channels, opportunities and initiatives for our members who are keen to access new markets within the continent,” Buamim said. “Ethiopia is currently experiencing strong economic growth being driven by the agriculture and services sectors, and we see a lot of potential to expand our ties in these areas, and collaborate in other sectors of mutual interest, including telecom, construction, hospitality and tourism.”