The UAE and Ethiopia have signed a series of agreements in various fields
The President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, and the Prime Minister of the Federal Democratic Republic of Ethiopia, Abiy Ahmed, yesterday witnessed the signing of memorandums of understanding and agreements between several entities in both countries. These agreements aim to develop cooperative relations and developmental partnerships, diversifying their areas of collaboration in various aspects that drive development and prosperity in both countries.
The memorandums and agreements signed by both sides at the Ethiopian Prime Minister’s office include a cooperation agreement in the field of mutual administrative assistance in customs affairs, a memorandum of understanding for cooperation in combating terrorism, an understanding for exchanging expertise in development and governmental modernization, a memorandum of understanding for collaboration in industry and advanced technology, in addition to a joint declaration between the two countries for cooperation in climate action. There are also memorandums of understanding regarding the UAE’s Good Delivery Standard for gold, cooperation between the UAE Currency Company and the Ethiopian National Bank, cooperation between the UAE Export Credit Insurance Company and the Ethiopian Insurance Corporation, as well as cooperation with Ethiopian Commercial Bank and Ethiopian Development Bank. Furthermore, a memorandum of understanding was signed between the Abu Dhabi Chamber of Commerce and Industry and the Ethiopian Investment Authority, and another between the Sharjah Chamber of Commerce and Industry and the Ethiopian Investment Authority. Additionally, a memorandum of understanding was established between Mubadala Investment Company and the Ethiopian Ministry of Agriculture.
The two sides also signed a memorandum of understanding between Abu Dhabi Ports and the Ethiopian Investment Holding Company, another memorandum of understanding between DP World and the Ethiopian Ministry of Transport and Logistics, a roadmap between Masdar and the Ethiopian Ministry of Finance, and an intention letter between the Abu Dhabi National Oil Company (ADNOC) and the Ethiopian Ministry of Agriculture.
The Ambassador of the United Arab Emirates to the Federal Democratic Republic of Ethiopia, Mohammed Salem Al Rashdi, stated that the historical relations between the UAE and Ethiopia have made significant progress in recent years, especially under the exceptional friendship between the leadership of both countries and the exchange of visits and meetings between Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE, and Dr. Abiy Ahmed.
Al Rashdi, in a statement to the Emirates News Agency (WAM) on the occasion of the President’s visit to Ethiopia, said, “The UAE is one of the prominent trade partners of Ethiopia, and the trade exchange has seen continuous growth in recent years. Estimates from the Ethiopian Ministry of Trade indicate that the trade volume between the two countries reached 6 billion US dollars.” He also highlighted that the number of UAE investment projects in Ethiopia amounts to over 113 projects.
President Sheikh Mohamed bin Zayed Al Nahyan and Dr. Abiy Ahmed held talks yesterday covering various aspects of the bilateral relations between the two friendly countries, as well as regional and international issues of common interest.
