The Dubai Chamber of Commerce and Industry recently
announced that its trade mission to Ethiopia resulted in an agreement between
S.S. Lootah International and Oromia International Bank SC of Ethiopia.
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.”
