Dubai Chamber and Ethiopia delegation discuss trade ties

August 28, 2014 11:12 am

Majid Al Shamsi, first vice chairman, Dubai Chamber, received on Sunday an Ethiopia delegation, led by Shisema Gebresilassie, head of the trade and industry development bureau of the Addis Ababa City Administration at the Chamber premises. The delegation also included Elias Geneti, president, and other board members of the Addis Ababa Chamber of Commerce and Sectorial Associations, Khaleej Times reported. In his welcome address, Al Shamsi said that trade is vital for Dubai which is an ideal business hub with excellent connections to markets across the Middle East, Africa and Asia. The emirate’s economy is growing and it is open to overseas investment. Ethiopia is Dubai’s 77th largest trade partner globally and the total non-oil trade with the country grew by 32 per cent, from a value of Dh1.26 billion in 2012 to Dh1.66 billion in 2013. “Presently there are 318 Ethiopian companies operating in the emirate and we hope that through our joint efforts and shared vision this number will increase and will bring our business communities closer together and in turn help drive our countries’ economies,” he said. “Dubai’s relationship with Ethiopia strengthened last year with the opening of our first African international office in Addis Ababa which is helping to increase two-way business and investment between our two destinations.”