Envoy calls on Scottish companies to seize Ethiopia’s lucrative trade, investment opportunities

Addis Ababa, June 29, 2023 (FBC) – Ethiopia’s Ambassador to the UK and Permanent Representative to the International Maritime Organization (IMO) has called on Scottish companies to seize Ethiopia’s lucrative trade and investment opportunities.

On Wednesday (28 June), Ambassador Teferi met with the Deputy Chief Executive Officer of the Scottish Chamber of Commerce, Charandeep Singh BEM in Glasgow, Scotland.

Ambassador Teferi mentioned that Ethiopia is the second-most populous country in Africa with a 60% working age population. He touched upon the revamped investment and commercial laws, structural reform and reshuffling, profound political and economic reforms made in the country.

He underscored that Ethiopian Airlines has created a vast African network to 62 cities and more than 128 international passenger and cargo destinations. He said, “this has made Ethiopia the continent’s logistical hub”, adding that Ethiopia is a window to Africa.

The Ambassador stressed on the ongoing economic liberalization in Ethiopia, including the opening up of the telecom industry and reforming the financial sector.

Ambassador Teferi took note of UK government’s new Developing Countries Trading Scheme (DCTS) recently launched in Addis Ababa, in which Ethiopia is expected to benefit from duty-free industrial exports to the UK markets. In this regard, he called on Scottish companies to seize Ethiopia’s lucrative trade and investment opportunities in Ethiopia.

The two sides further agreed to establish partnerships between the Ethiopian Chamber of Commerce and its Scottish counterpart going forward.

Moreover, Ambassador Teferi Melesse also met with the Principal and Vice-Chancellor of University of the West of Scotland, Professor James A. Miller FRSE today in Scotland.

Ambassador Terefi briefed the Vice-Chancellor on the series of reforms being made on the education sector in Ethiopia in a bid to ensure quality education.

The two sides underlined the importance of forging partnerships between University of the West of Scotland and higher learning institutions in Ethiopia in priority areas, including business and creative industries, engineering, health and teacher education.