Lubna Al Qasimi meets Ethiopian President

WAM Abu Dhabi, Feb 10th, 2013 (WAM)–UAE Foreign Trade Minister Sheikha Lubna Al Qasimi has stressed the importance of boosting the investment and trade ties between the UAE and Ethiopia, especially in the attractive vital sectors that support the development.

Sheikha Lubna was speaking, while meeting the President of Ethiopia, Girma Wolde-Giorgis in the Ethiopian capital, Addis Ababa. The UAE minister led the UAE delegation to attend the inauguration ceremony of Julphar Plant there. Also present were Sheikh Saqr bin Humaid Al Qasimi, Chairman of Julphar, Ethiopia Foreign Affairs Minister Dr Tedros Adhanom and Dr Yousif Eissa Hassan Alsabri, UAE Ambassador to Ethiopia Sheikha Lubna said the UAE is looking forward to strengthening its economic and investment ties with Ethiopia, a move she noted “translated the foreign relations’ vision in Africa”.

She added that the success of the diversification policies has qualified the UAE to further make use of its strategic location in addition to the UAE’s advanced infrastructure, noting that these factors have catapulted the UAE to be the international trade hub.

The UAE minister noted that the expansion of the UAE investment areas in Ethiopia comes in the context of efforts of the Ministry of Foreign Trade, whose great interest lies in the African continent and many of the world’s emerging economies.

For his part, the Ethiopian President praised the UAE’s keenness on bolstering its relations with Ethiopia, especially in the areas of economy and investment, welcoming the UAE investments in Ethiopia.

The Ethiopian Prime Minister also underlined that his countries is keen on boosting the UAE investments in Ethiopia, noting that Ethiopian government is seeking to develop the infrastructure to attract foreign investors.

The trade exchange between the UAE and Ethiopia during the first half of 2012 stood at about Dh760 million, while the UAE contributes to 80 per cent of the total inter trade.