17 March 2017

Ethiopia: Taking Bilateral Ties to New Heights

Ethiopia's diplomatic relations, particularly in business diplomacy and tourism attraction, have been steadily growing from time to time registering astounding and promising achievements. But compared to its number of external relations, the nation has not yet benefited economically to the extent it should. It still needs relentless efforts in expanding business diplomacy and conducting promotional activities globally.

Indeed, presently, various foreign investors are making Ethiopia their investment destinations, carrying out feasibility assessments, establishing business enterprises, holding business dialogues and anchoring their investment roots in Ethiopia. Its rightly articulated policies and strategies, wedded with other conducive investment atmospheres, have enabled the country to sprout fruits, attract local, continental and big international investors, that stand shoulder high in various economic sectors.

Above and beyond, nation's age-old serenity and stability, cheap labor force and abundant raw material resources, government's various incentives, conducive investment environment and infrastructure have zoomed investors' attention to Ethiopia. The recent Brazilian Ambassador's briefing about his country's economic and diplomatic relations is a showcase that Ethiopia has come under Brazilian Investors' exploration radar. Of course, the ambassador has dilated on the two countries' economic relations and also on introducing Ethiopian investment opportunities to Brazilian investors so that they could outlay their capitals on various fields.

Most importantly, luring investors from Brazil has a dual advantage. As Brazil has become one of the fastest economically developing countries globally, the country will have potential investors. Besides, Ethiopia will use Brazil as a runway to promote its untapped investment opportunities to the continent on the other side of the Atlantic ocean. Thereof, beyond widening economic diplomacy in the region, Ethiopia is embracing the globalization trend.

Brazil has proved an economically developing nation in a short period of time. Ethiopia can draw lessons and best development experience as it has ensured food security, health care accessibility among other poverty reduction strategies. Of course, the two countries have established cooperation in agriculture, peacekeeping, energy waste management and infrastructural development areas. But ,other similar projects should be launched in the country to forge investment ties so as to make the two nations economical beneficiaries. But compared to both countries' potentials , trade volume and commercial exchanges between the countries is much lower. As Ethiopia is one of the most luring investment destinations, more Brazilian investors can use the opportunities. As part of solidifying economic relations, Ethiopian has launched Air Sao Paulo flight two years ago.

Similarly, Djibouti's president is visiting Ethiopia to further strengthen, expand and consolidate the sisterly countries'

long-standing relation and to further cement bilateral socio economic relations.

According to the Djiboutian Ambasodor's recent briefing, Djibouti and Ethiopia have worked hard for multifaceted economic integrations.They eye at establishing new fields of economic cooperation besides enhancing the existing ones.

Chiefly, good opportunities, created like investors' influx to Ethiopia, have been firmly connected with citizens' unshakable unity, consensus on national issues, commitment for further economic development, aspiration for affluence, among others. But we have to maximize our efforts and accommodations so as to use the current good opportunities.

Furthermore, the nation is now finalizing some of the already started projects and it is commencing new projects that would step up growth, create job opportunities and augment Foreign Direct Investment (FDI). Presently, Ethiopia has seen to the expansion of infrastructural facilities, like constructing industrial parks and laying cornerstones to construct integrated agro- processing industrial parks based on various agro-ecologies in the state. Such facilities are expected to create thousands of job opportunities and market linkages. They are also expected change respective local smallholder farmer livelihoods to the better among other related economic benefits.

Yes, both industrial and integrated agro-industrial parks, in various parts of the country, have a huge importance in encouraging and accommodating the emerging and existing investors. They serve a means to further attract investors. Because, parks are believed to be epicenters in hastening the agricultural-led economy to industrial- led economy of the nation.

To sum up, Ethiopia has to expand its business diplomacy horizons and promote investment opportunities than ever before to alleviate poverty and establish globally competitive economy. Thus there is no gainsaying that industrial and integrated ago-industrial parks contribute a lot in realizing the industrialization ambition and subduing poverty rapidly.

Hence, introducing and adapting new technological innovations from differ parts of the world through economic diplomacy, backed with technology and knowledge transfer, will bolster the country's development aspirations.

Ethiopia

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