Ethiopia’s Macroeconomic Reforms Will Strengthen Global Trade Relations    

Addis Ababa, January 22, 2025 (ENA)— Ethiopia's macroeconomic reforms will strengthen relations with global partners, including Japan, according to Trade and Regional Integration Minister Kassahun Gofe.

Opening of the Ethio-Japan Trade and Investment Symposium in Addis Ababa today, the minister said Ethiopia offers a vibrant and diverse market with strategic location in the Horn of Africa.

He added that Ethiopia is at crucial juncture in its economic journey, having registered significant growth in merchandise trade.

“Ethiopia is at crucial juncture in its economic journey, having registered significant growth in merchandise trade. For instance, we have achieved an impressive performance of 3.28 billion USD in the last six months of this fiscal year.”

According to him, there is significant potential to enhance trade between the two nations, especially in agriculture, manufacturing, energy and technology.

 

The Ethiopian government has identified these sectors for investment and cooperation, presenting ample opportunities for Japanese companies.

“Let us build upon the momentum created by this symposium. I am confident our discussion will help us identify and address gap in our trade and investment relations,”  Kassahun said.

Foreign Affairs State Minister Mesganu Arga pointed out that the event signifies the commitment of Japanese enterprises to explore the untapped investment and business opportunities in Ethiopia.

The event creates a platform where the rich tradition of Japanese innovation and creativity meet with the untouched opportunities of Ethiopia, fostering collaboration and mutual prosperity.

The state minister added that Ethiopia and Japan share a relationship founded on trust, mutual respect and a shared vision of development.

 

Japan has stood as one of Ethiopia's most reliable partners, contributing to its economic progress, through trade, technology transfer and development protection, he stated.

“Currently, there are 14 Japanese companies that have invested in Ethiopia, and we look forward for more Japanese investment in Ethiopia. But again, our trade and investment relation hasn't reached its full potential. I believe now is a high time for both countries to work closely and exert maximum effort to uplift our bilateral relation in trade and investment.”

According to Mesganu, Ethiopia is currently undergoing through robust, transformative macroeconomic reforms that present a wealth of opportunities for Japanese business.

As the fastest growing economy and the third largest economy in Sub-Saharan Africa, Ethiopia also offers unparalleled market access to the African Continental Free Trade Area members.

Besides, Ethiopian Airlines, with its direct flight to Japan, plays a crucial role in facilitating both business tourism and people-to-people, cultural exchange between the countries.

“I (therfore) encourage Japanese enterprises to explore these opportunities and position themselves as key partner in Ethiopia's development journey,” Mesganu urged.

 

On his part, Japan’s Ambassador to Ethiopia, Shibata Hironori, expressed commitment to promote trade and investment.

He said “this year will be important not only for Ethiopia’s economy but also for Japanese companies looking for business chances. ”