The volume of non-oil trade between the UAE and Ethiopia saw a nine per cent growth in 2017, reaching a total of $781.9 million.
The Sharjah Chamber of Commerce and Industry (SCCI) announced that it held a meeting with an Ethiopian delegation where they discussed ways to strengthen the economic relations as well as the opportunities to promote investments.
The two sides discussed a number of mutual interest topics among them the activation of the MoUs that were previously signed to promote the economic relationships between the business communities of Sharjah and Addis Ababa as well as finding possible ways where Emirati investors can participate as partners in the upcoming Addis Ababa Exhibition and Convention Centre Project.
HE Waleed AbdelRahman BuKhatir, Second Vice Chairman of the SCCI, expressed the keenness of the chamber to promote the economic relationships between Sharjah and Ethiopia by providing all the possible facilities to Ethiopian businesspeople that are looking to invest in Sharjah.
There are 182 Ethiopian companies registered in Sharjah and in 2015 the volume of Ethiopia’s direct investment in the UAE was $17 million.
Furthermore, the UAE is the second largest investor from the GCC countries after Saudi Arabia.