Ethiopia, Bangladesh Vow to Work on Economic Spheres Cooperatively

Addis Ababa, March 7/2022/ENA/  Ethiopia and Bangladesh have vowed to work cooperatively on the economic sector, according to Ethiopian Ministry of Trade and Regional Integration.

Minister of Trade and Regional Integration, Gebremeskel Challa  held discussion with Bangladesh Ambassador to Ethiopia, Md. Nazurl Islam and Md Tipu Munshi, Mp, Minister for Commerce to Bangladesh.

Speaking at the occasion, Gebremeskel said Ethiopian government has a super ambitious plan to be a middle income country.

According to him, the country has been striving to attain these ambitions through realizing the economic transformation from agriculture led economy to industry led economy through sustaining the rapid, broad based and inclusive economic growth.

The minister explained about the immense potential of Ethiopia for investment and various economic activities.

According to him, Ethiopia is a country with a greater richness in ecological diverse climatic zones and the second most populous nation on the African continent after Nigeria.  

Ethiopia is also building different industrial parks across the country and these parks has under operation and are ready for foreign investors, the minister indicated.

The country is now reinforcing efforts  for  diversified  market destinations for its export commodities, in this regard, Gebremeskel underscored Bangladesh will be a major destination.  

“Ethiopia is seeking to broaden its export base in terms of commodities and to diversify market destinations. The country has agricultural products like oilseeds, Avocados, pulses that are ready for export and for the future Bangladesh will be the major export destination of those agricultural products the minister enclosed.”

Minister of Commerce to Bangladesh his Excellency Md Tipu Munshi, Mp said on his part that Ethiopia has untapped huge resources that have an optimistic impact on achieving its super ambitious plan to be a middle income country.

In other side, Bangladesh has huge potential in the pharmaceutical sector and the major economy of the country is based on this sector.

The sector grew at a phenomenal rate under enabling policies of the government of Bangladesh and the country is ready to share its best experience to Ethiopia he added.

The minister also pledged even though the price of the drug is rising, Bangladesh is still exporting this product through the world at an equitable price and will be ready to sell it to Ethiopia in Equitable price.

Ethiopia and Bangladesh have historical ties and the relationships have been continuously marked by friendship and mutual interest, it was indicated.