Ethiopia’s Ambassador to Uganda, Etsegenet Bezabih Yimenu, expressed enthusiasm regarding the continuously strengthening bilateral ties between the two nations. While acknowledging the progress made in trade relations, Yimenu emphasized the need for further efforts to fully realize the trade potential between Uganda and Ethiopia.
During a briefing at her residence, the ambassador highlighted the advantages presented by the geographical proximity and economic zones of the two countries. However, she pointed out that not enough has been done to promote trade cooperation between them. Yimenu expressed her mission’s strong commitment to addressing this issue and fostering increased business engagement between the two nations.
“To promote business between us, we need to first connect institutions. In the coming years, we aim to organize business promotion events in Kampala, providing a platform for investors to showcase and explore business opportunities in both countries,” stated Yimenu.
Given the limitations imposed by the COVID-19 pandemic, which forced many activities to shift to virtual platforms, the ambassador expressed eagerness to capitalize on the current situation and engage more extensively. She emphasized the intention of her team to venture beyond Kampala, reaching various districts and regions to ensure widespread participation and ultimately elevate the trade relations to new heights.
According to available data, Uganda exported goods worth $2.44 million to Ethiopia in 2021. Notable products included concentrated milk, rubber tires, and toilet paper. Conversely, Ethiopia exported goods valued at $1.22 million to Uganda, with key items being eggs, poultry, and vegetable and mineral carvings.
Over the past 26 years, Uganda’s exports to Ethiopia have experienced an average annual growth rate of 13.7%, rising from $86,100 in 1995 to $2.44 million in 2021. Similarly, Ethiopia’s exports to Uganda have seen a growth rate of 2.33% per year, increasing from $671,000 in 1995 to $1.22 million in 2021.
To significantly boost trade volumes, the ambassador emphasized the importance of strengthening trade promotion and cooperation between the governments of Uganda and Ethiopia. She also highlighted Ethiopia’s recent efforts to promote its products, such as leather, wine, and coffee, in the Ugandan market.
Ambassador Yimenu’s optimism and dedication to enhancing trade ties between Uganda and Ethiopia provide a promising outlook for the future, paving the way for mutually beneficial economic collaboration and fostering stronger relations between the two nations.
Afaf Al Fahchouch