Dubai Chamber of Commerce and Industry will open its first overseas representative office in Ethiopia by the end of 2012, the business organisation announced following the successful conclusion of its trade mission to Addis Ababa.
During UAE - Ethiopia Business Forum (Photo: Business Wire)
Plans to sign a Memorandum of Understanding (MoU) with the African Union during the Eastern African Community Forum that will be held in Dubai in October were also agreed during the three-day visit.
The opening of an office in Ethiopia will be the first in a series that Dubai Chamber intends to open as part of its new strategy to explore opportunities in untapped markets.
The trade mission, organised by Dubai Chamber with the support of the Ministry of Foreign Affairs, the UAE Embassy in Ethiopia and the Ethiopian Consulate in Dubai, was held from May 15 to 17 in order to build stronger commercial ties with the African nation.
It was successfully concluded with a meeting with the Ethiopian Prime Minister H.E. Meles Zenawi, who welcomed the delegation, praised Dubai's vibrant economy and called for building stronger bridges of cooperation between Dubai and Ethiopia.
He said the opening of a representative office by Dubai Chamber was a positive step in advancing trade inflow between the two countries.
H.E. Hamad Buamim, Director General, Dubai Chamber, said the business organisation had chosen to focus on Ethiopia due to the country's close proximity and the availability of huge investment opportunities.
He said Dubai could also play a strategic role as a gateway for Ethiopian exports to the GCC, Middle East, South East Asian and European regions.
According to recent data, Dubai's non-oil trade with Ethiopia increased by 35.9% to reach AED 1.1 billion between January and October 2011, compared to AED 829 million during the same period in 2010.
The seminar saw discussions focus on how the two business communities can work together to take advantages of investment opportunities in agriculture, infrastructure, trade, energy, logistics, tourism and telecoms.
For more information, please visit: http://www.dubaichamber.com/about-us/our-history
*Source: ME NewsWire
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Dubai Chamber of Commerce and Industry
Rami Halawani +971-4-202-8548