Ethiopia is actively collaborating with neighboring countries to enhance trade ties, a strategic move aimed at reducing food insecurity and fostering economic development throughout East Africa.
Also the country is strengthening regional partnerships and improving cross-border trade, these efforts not only aim to ensure stable food supplies but also promote sustainable growth, benefiting communities and bolstering resilience against economic challenges in the region.
In a recent meeting, Prime Minister of Ethiopia Abiy Ahmed (PhD) and President Hassan Sheikh Mahmud of Somalia held extensive discussions, building on previous engagements to strengthen bilateral relations. Their talks focused on peace and security, the economy, diplomacy, and opportunities for joint infrastructure development among the nations.
The two neighbouring leaders also emphasized strengthening security collaboration as the region faces evolving threats from extremist militant groups; the leaders instructed their respective security agencies to coordinate more closely to promote peace and stability.
Recently, the Ethiopian Air Force collaborated with the Somali government to launch coordinated attacks against the Al-Shabaab terrorist group. This joint operation marks a significant step in the ongoing efforts to enhance regional security and stability.
The partnership between Ethiopia and Somalia aims not only to against Al-Shabaab’s operations but also to foster peace and reduce tensions across the East African region.
In addition to their military collaboration against the Al-Shabaab terrorist group, Ethiopia and Somalia are actively engaging in discussions aimed at harnessing Tran’s boundary natural resources. Through working together, the two nations hope to create a more secure environment for their citizens and facilitate economic development.
Both countries recognize the potential benefits of working together to manage shared resources such as water, minerals, and agricultural land. By sharing their capability and resources, Ethiopia and Somalia can enhance food security, promote sustainable agricultural practices, and ensure the equitable distribution of these vital assets.
Furthermore, the discussions underscore a commitment to fostering economic resilience, addressing environmental challenges that aim to create frameworks to support and shared prosperity while safeguarding the natural environment, ultimately benefiting their citizens and contributing to a more integrated East Africa.
Prime Minister Abiy emphasized the region’s immense potential for cooperation and mutual benefit, stating: “The Horn of Africa is rich in resources fertile lands, fresh water, and human capital. Yet, as a region, we struggle to feed ourselves. This makes integration essential to achieving our shared aspirations.”
In his part, President Mohamud and PM Abiy also underscored the importance of increasing trade, investment, and economic cooperation. They agreed to expand infrastructure linkages to facilitate trade and foster shared prosperity between the neighboring countries.
Ethiopia is making concerted efforts to strengthen its economy and address the challenges faced across various sectors. The country aims to fostering collaboration with neighboring countries, to create a more integrated and resilient regional economy. A key focus of this initiative is to tackle illegal trade and reduce other trade barriers that hinder growth and prosperity.
In the previous week, the country also held Ethiopian-keyna buinss Conference that significant to stimulate economic growth and strengthen the ties between the business communities of the two countries.
Director of Political Economy Diplomacy at Ethiopia’s Ministry of Foreign Affairs, Yohans Fenta stated that the commitment of both countries to combat illegal trade and bringing tranquility for enhancing trade and investment between two nations.
He recalled that both nations neighbor geographical landscape and a long-standing history of diplomatic relations. In this regards, “we are actively working to address issues in the business sector, which set to bolster their investment and trade partnership for ensuring food security”.
He further stated that this conference help to utilizing their potential of trade and investment ability for the benefits for both nations.
He pointed out that Ethiopia is making economic progress by exporting agricultural products to Kenya, earning approximately 58 million dollars annually.
Kenyan Ambassador to Ethiopia, George Orina, stated that Ethiopia supplies agricultural products and electricity to Kenya, and in return, Kenya offers materials in the Ethiopian market.
The Ambassador mentioned that Kenya earns 113 million dollars each year by providing to manufacture goods to Ethiopia markets. He emphasized that this trade relationship will facilitate rapid economic growth for both countries.
He mentioned that through strengthening bilateral relations through trade and investment is particularly crucial in areas like infrastructure development and food security, which are crucial to sustainable economic prosperity.
In addition to its engagement with Kenya and Somalia, Ethiopia is also committed to strengthening trade and economic ties with Djibouti. Recently, Ethiopian Ambassador to Djibouti, Berhanu Tsegaye, had a fruitful meeting with Djibouti’s Minister of Budget, Isman Ibrahim Robleh.
Their discussions centered on addressing important bilateral issues, especially the requests from Ethiopian organizations operating in Djibouti. Ambassador Berhanu remarked, “We tackled several outstanding matters crucial for improving the business environment for Ethiopian companies in Djibouti.”
A significant topic was the challenges facing Ethiopian Airlines, which is essential for connecting the two nations and supporting trade and travel. They also looked into matters concerning the National Oil Company (NOC), highlighting the need for effective operations and collaboration in the energy sector.
Additionally, he noted, “We explored various related topics that need facilitation to ensure smoother business transactions. Our aim is to find constructive solutions that not only address immediate challenges but also foster a more collaborative relationship between our countries. By enhancing our cooperation, we hope to create a favorable business environment that benefits enterprises in both Ethiopia and Djibouti,” he added.
Additionally, Ethiopia’s plays proactive approach to increasing investments through the implementation of macroeconomic policies, which aim to alleviate foreign currency shortages and address other sectorial challenges. Moreover, it leveraging the trade and investment potential of among nations is vital for maximizing benefits for the business community.
Also, the ongoing free trade agreements among African nations are expected to widen trade opportunities, addressing existing barriers and facilitating smoother economic exchanges among the continent.
Efforts to expand trade relations between Ethiopia and neighboring nations throughout the East African region are well underway. Through diplomatic channels, the countries are committed to strengthening people-to-people relations by enhancing their ties in trade and investment.
Additionally, Ethiopia is attempting to strengthen various economic ties beyond the east Africa region. Ethiopia’s path towards World Trade Organization (WTO) agreement is a testament to the country’s resolve to promote a competitive, inclusive, and sustainable economy.
This strategic move aligns with the broader vision of Ethiopia’s Economic Reform Agenda. Through modernizing trade and investment policies, strengthening institutional frameworks, and enhancing economic resilience, these reforms are paving the way for Ethiopia to integrate into the global trading system while safeguarding the country’s national development priorities.
Ethiopia is open various business project and committed to facilitating a business-friendly environment that attracts sustainable investments, promotes industrialization, and enhances the country’s global economic positioning. Moreover, the country continues to work closely with key intentional and national stakeholders to ensure that Ethiopia’s consent supports economic growth, job creation, and long-term prosperity.
BY FIKADU BELAY
THE ETHIOPIAN HERALD TUESDAY 11 MARCH
