Ambassador Lakizadeh Says There Are Lot of Untapped Trade, Economic Opportunities Between Ethiopia & Iran

Addis Ababa March 5/2023/ENA/ Iran's Ambassador to Ethiopia Samad Ali Lakizadeh said there are a lot of untapped trade and economic opportunities between the two countries.

Speaking to ENA, the ambassador stated that the Iran-Ethiopia relationship is historical, friendly, and longstanding and without blemishes.

The relationship between the two ancient countries goes back 2,500 years, Ambassador Lakizadeh said, noting that the relationship is multi-dimensional, including cultural, trade and economic cooperation.

Iran being a country of 85 million inhabitants with huge natural resources and Ethiopia being a country of 120 million with untapped natural resources, there are many rooms for economic relationship, he pointed out. 

Hence, the ambassador added that in a bid to tap several unexplored business opportunities trading with each other's currencies and using bartering mechanisms can address several trade and economic bottlenecks such as foreign currency shortages. 

According to Ambassador Lakizadeh, the resumption of a joint economic cooperation commission will help boost lots of business potential as there are lots of uncovered opportunities that still need to be used to boost relationships.

"Our short geographical distance between Iranian ports in the Persian Gulf and Red Sea ports is very short to reduce transportation costs," he elaborated, adding the countries "should boost bilateral trade to tap those opportunities."

He further pointed out that Iran is willing to share with Ethiopia and any other  country, for that matter, its progress in high-tech, knowledge and science and technology.

Being members of some regional and international organizations such as South-South Cooperation, Non-Alignment Movement, and G-77 would help us facilitate bilateral relations,  he stressed.

Iran is trying to boost bilateral relationships with African countries, the ambassador revealed, adding that the country has got agreements with many countries in Asia and Latin America to trade with each other’s currencies, or even a bartering mechanism.