Addis Ababa, August 24, 2023 (FBC) – The Ethiopian Consul General to Bahrain, Ambassador Shiferaw Geneti, discussed with the Minister of Industry and Commerce of the Kingdom of Bahrain, Abdulla Adel Fakhro.
On August 24, the two dignitaries exchanged views on issues pertaining to cooperation between the two countries and to connect the business community in the field of trade and investment.
During the discussion they concurred on reinvigorating the trade ties which was heavily impacted by the COVID pandemic by creating affiliation between the two countries.
In view of the closeness of Ethiopia and Bahrain, it is possible to supply Ethiopian products such as coffee, sesame and oilseeds, textiles and leather products, minerals and spices, vegetables and fruits, cattle and meat products to the Bahrain market, the Consul General said, adding that if a memorandum of understanding is signed between relevant ministries of the two countries, the countries will benefit from the trade sector.
Amb. Shiferaw reminded that Ethiopia is one of the fastest growing non-oil producing countries in the world but a preferred destination for investment. He asserted that the reforms being undertaken, incentives prepared for foreign investors, the conducive environment for investment, and priority areas are enabling Ethiopia to be a preffered destination for investment.
Bahraini investors could benefit from investment in Ethiopia in agriculture, renewable energy, transport and logistics, pharmaceutical, food processing, textile products, leather and leather products, information technology and mining sectors, Shiferaw said.
On his part, the Bahraini Minister stated that his country imports all consumer products from foreign countries due to its climate and the government mainly focuses on ensuring food security.
He said that he is determined to make Ethiopia one of its market partners and to strike a trade agreement with the East African country.
Abdulla Adel Fakhro, also a member of the board of the largest source of investment in Bahrain -Mumtalakat Holding – said that he will encourage relevant business people to invest in Ethiopia.
Both sides agreed to work closely in order to boost bilateral relations based on mutual benefits.