Ethiopia, Republic of Korea agree to bolster bilateral trade relations

Addis Ababa, February 18, 2023 (FBC) – Trade and Regional Integration Minister, Gebremeskel Chala held discussion with Jang Sungmin, Senior Secretary for Future Strategy for President of the Republic of Korea on ways of enhancing bilateral trade relations.

Gebremeskel Chala, appreciating the longstanding historical and diplomatic ties between the two sisterly countries, emphasized on the need to maximize the implementation of bilateral trade agreement that was signed between the two countries in 2002 to improve mutual economic cooperation.

He also recognize Republic of Koreas’ role in supporting social and economic development activities in Ethiopia. He underscored the imperatives of trade sector capacity building and materialization of electronic trade to ensure sustainable quality trade and make use of Korean special market preferences.

The Minister also explained Ethiopia’s priority areas for future cooperation, such as strengthening commodities exchange, experience sharing on e-commerce and promote investments.

Furthermore, the minister also briefed about the ongoing economic reform and the green legacy initiatives and invited investors of Republic of Korea to come and tap business potentials in Ethiopia.

Jang Sungmin, on his part, expressed his profound appreciation to Ethiopian soldiers for sacrificing their lives to maintain Korean liberty during Emperor Haile Selassie regime. He further re-affirmed commitment of Republic of Korea to strengthen and maintain the strongly bonded relationship of the two countries.

Meanwhile, he also commend on Ethiopia’s role to host African Union Summit here in Addis Ababa and exchange ideas on bilateral and multilateral issues.

Finally, both sides agreed to strengthen the existing bilateral trade relations and development cooperation between the two countries.