Ethiopia, Philippines emphasize importance of enhanced economic cooperation

Addis Ababa, June 11, 2024 (FBC) – Ethiopia and the Philippines emphasized the importance of further strengthening their relations in economic and financial domains.

Ethiopia’s Ambassador to the Republic of Korea and Non-resident Ambassador to the Philippines, Dessie Dalkie, met with the Undersecretary of Finance of the Philippines, Jovez Z. Balbosa.

The two sides exchanged views on economic and financial cooperation and partnership between Ethiopia and the Philippines, as stated by the Embassy of Ethiopia in Seoul, the Republic of Korea.

During the discussions, Ambassador Dessie noted that Ethiopia and the Philippines have enhanced their diplomatic relations since 1960.

The Ethiopian envoy also underscored the importance of further strengthening the bilateral relations in economy and finance.

He also urged the undersecretary to encourage Filipino investors to look into investment potentials in Ethiopia.

Additionally, Ambassador Dessie pledged to work diligently to enhance investment, trade, and the exchange of expertise in the economic and financial sectors between the two nations.

Hence, the Ambassador urged the establishment of a memorandum of understanding between the two nations, with a particular focus on avoiding double taxation to facilitate and enhance economic and financial cooperation.

Jovez Z. Balbosa, on his part, stated that the Republic of Philippines also seeks to further strengthen its financial and economic relations with Ethiopia.

In addition to trade and investment, workforce exchange between the two nations could also be an area of cooperation, as the undersecretary explained.