Economic diplomacy benefiting Ethiopia

news diplomacy1Ethiopia's economic diplomacy has made the country a desirable investment destination, disclosed the Ministry of Foreign Affairs (MoFA).

According to MoFA Spokesperson, Ambassador Dina Mufti, the current diplomacy of the country unlike in the past regimes is economic centered.

Ethiopia's diplomacy was framed 20 years ago in such a way as to support the country's efforts to extricate itself from poverty, he said.

Ethiopia's diplomacy is guided not by ideological affiliation to states and parties but based on the economic benefits that emanate from the relationship, said Ambassador Dina.

Activities have been underway to strengthen relations with countries, educational institutions, governmental and non- governmental organizations, and the mass media, he indicated.

Instead of categorizing states by their ideological orientation as in the past, the current diplomacy of the country focuses on the benefits it can get from export, investment, tourism, technology transfer, development assistance and aid, he added.

The trade and investment relation which was only limited to China, India and other Eastern countries has now expanded to European countries, the US, Australia and South American countries, Ambassador Dina disclosed.

The recently held Ethiopian ambassadors, consul- generals and directors' summit has also set directions on how to further bolster the economic diplomacy, he stated.

Supporting activities with technology, creating skilled manpower, modernization and mobilizing the Diaspora were also the major areas of focus.

MoFA Business Diplomacy Director-General Kebede Abera on his part said the Ministry is working in collaboration with various stakeholders, including Ethiopian Investment Agency and Ethiopian Chamber of Commerce and Sectorial Association, to consolidate the efforts to attract foreign direct investment.

Kebede pointed out that the coming of various world leaders to the country accompanied with investors attests to the success of the diplomatic efforts.
The director- general said the number of foreign investors who came to Ethiopia for feasibility study was 365 in 2005 E.C. The number grew to more than 1,000 in 2006 E.C.

The realization that they can make profit in Ethiopia and the country's growing say in continental and global forums are the factors for the growth, according to the director-general.

Source: ENA