Oman, Ethiopia seek to boost trade

Oman Monday 24/May/2021 19:47 PM
By: Times News Service
Oman, Ethiopia seek to boost trade

Muscat: Investment opportunities in food grains, cash crops, livestock, horticulture, minerals, and energy in Oman and Ethiopia will be discussed between the two countries during their investment forum, which takes place on May 25.

“The Ethiopia-Oman Trade and Investment Virtual Forum will provide a valuable opportunity to get first-hand information about trade and investment opportunities in Ethiopia as well as serve as a platform for the Ethiopian and Omani investors and business community to interact and network with their counterparts,” said Dr Ayrorit Mohammed Yassin, the Ambassador of Ethiopia to Oman.

“The event focuses on import and export trade between Ethiopia and Oman,” she added. “Diplomatic relations between Ethiopia and Oman, which began in 1995, have now been widened into trade and investment relations in various fields.

“For so long, these economic ties mainly focused on import and export trade, mostly on agricultural products and livestock, as well as construction materials and processed food products,” added Yassin.

During the forum, investment opportunities in Oman will be spoken about by the Oman Chamber of Commerce and Industry, as well as officials from the free zones in Sohar and Salalah. Furthermore, investment opportunities in Ethiopia for Omanis will also be showcased.

Attending the event are Misganu Arega, the State Minister at the Ethiopian Ministry of Trade and Industries, and Asila Salim Al Samsami, the undersecretary at Oman’s Ministry of Commerce, Industry, and Investment Promotion.

Both Redha Juma Al Saleh, the chairman of the OCCI, and Mesenbet Shenkute, the president of the Addis Ababa Chamber of Commerce and Sectoral Associations will be at the meeting.

A number of Ethiopian government officials, including Wondale Habtamu, Aynalem Nigussie, and Dr Fikru Regassa – all from the Ethiopian Ministry of Agriculture – as well as Aschalew Tadesse, the foreign direct investment promotion director at the Ethiopian Investment Commission, are also going to be in attendance.

“With the recent pandemic event that has challenged economies throughout the world, I believe it is important and very timely to develop a new strategy with a more systematic and forward-looking approach that could benefit both countries,” said ambassador Yassin.

“I believe it is important to elevate the relationship into a more advanced economic partnership and cooperation,” she explained.

A number of other representatives from Omani government bodies and the business community, their counterparts from Ethiopia, as well as coffee, horticultural and livestock exports, are also expected to take part in the forum.