The UAE-Ethiopia Business Advisory Council was established in 2018 as a support system for UAE investors and Ethiopian businessmen.
DUBAI (WAM) – The UAE-Ethiopia Business Advisory Council recently held a meeting in Addis Ababa, where it outlined plans to ease the investment process for UAE companies operating in Ethiopia and remove existing barriers to bilateral trade.
The council, led by the UAE Embassy in Addis Ababa and supported by the Dubai Chamber of Commerce and Industry, was established in 2018 as a support system for UAE investors and Ethiopian businessmen.
The main responsibilities of the council include identifying business opportunities for UAE investors in Ethiopia, addressing common challenges faced by UAE companies in the African country, promoting business exchanges by assisting in the participation of companies in trade fairs and fostering a constructive dialogue between public and private sector stakeholders.
The meeting was attended by representatives from the UAE Embassy in Addis Ababa, Emirates Airlines, National Bank of Ethiopia, Dashen Bank and the Ethiopian Investment Commission (EIC), who serve as members of the council’s steering committee, in addition to members of the local business community, including representatives from UAE companies that maintain a presence in Ethiopia.
During the meeting, members reviewed the council’s activities and achievements over the last year, which include supporting UAE companies by setting up their businesses and business matchmaking in Ethiopia, and familiarizing them with attractive investment opportunities and projects emerging in the market.
Several recommendations for enhancing the council’s impact in 2020 were also outlined. Among the key suggestions were preparing a comprehensive strategic roadmap document and investment guide, assessing potential trade obstacles, hosting business forums and establishing a digital platform to connect traders.
Representatives from the Dubai Chamber also discussed the achievements and activities of the organization’s Addis Ababa office.
Talal Abdulla Al Azeezi, Head of the African Union Section – UAE Embassy – Ethiopia, expressed his gratitude to the UAE Ethiopia Business Advisory Council, as it works closely with private and public sector stakeholders to identify business opportunities in the Ethiopian market for UAE companies, and encourages cooperation between Ethiopian business communities and UAE companies.
Regarding the work done in Ethiopia, Omar Khan, Director of International Offices at Dubai Chamber, said, “The council is making considerable headway in facilitating bilateral business exchanges and helping UAE companies capitalize on untapped business potential in high-potential sectors within the Ethiopian market.” He added that the Dubai Chamber is committed to supporting the council and its efforts to promote bilateral trade.
Source: WAM