ETHIOPIAN PM MEETS VISITING UAE ECONOMY MINISTER

ADDIS ABABA, March 20– Ethiopian Prime Minister Hailemariam Dessalegn has receive an Emirati investment delegation led by the visiting Economy Minister of the United Arab Emirates (UAE), Sultan Bin Saeed Nasser Al Mansoori.

The Prime Minister, who recalled the longstanding relationship of Ethiopia and United Arab Emirates in the political and economic spheres, noted during Tuesday’s meeting that there was potential for investors to find profitable ventures in the sectors of agriculture, agro-processing, tourism and textiles in Ethiopia.

According to Hailemariam, the two countries will sign a bilateral investment promotion and protection agreement to encourage capital flow between them.

The two countries have already established an investment co-operation team which will seek investment destinations which provide most protection and most profitable areas for investment, he said.

The UAE minister said now is the right time for the two countries to boost their investment and business ties alongside political relations. He described Ethiopia as a country full of natural and human potentials, and voiced appreciation for the effort of the government to attract private investment.

Sultan also met Foreign Affairs Minister Dr. Tedros Adhanom on Tuesday and mentioned agriculture, food processing and tourism as the main business areas which UAE investors wanted to engage in.

Dr. Tedros said the trade and investment relations of the two countries had been improving and promised to support investors to overcome challenges they face.

He said the business discussion will raise the socio-political ties of the countries.

SOURCE: ENA