Homegrown Economic Reform Diplomatic Guide Launched to Foster Dev't

Addis Ababa, June 10, 2025 (ENA) -- The government of Ethiopia is actively engaged in economic diplomacy to enhance Ethiopia's development endeavors, high-ranking government officials stressed.

Developed in collaboration with the Ministry of Finance, Ethiopian Investment Holdings, and the Ethiopian Securities Exchange, the diplomatic guide seeks to improve understanding and facilitate effective communication regarding Ethiopia’s evolving political landscape.

Speaking at event, Foreign Minister Gedion Timothewos emphasized that the guide reflects the rationale behind the Home-Grown Economic Reform (HGER) initiative, which aims to address economic challenges and foster prosperity for the Ethiopian people.

 

He stressed the importance of recognizing the successes of the homegrown economic reforms and aligning economic diplomacy accordingly.

The Minister noted that the ongoing economic reform packages have already led to significant achievements and stressed that the diplomatic directive will serve as a guiding framework, enabling Ethiopian diplomats to effectively adapt to changes and perform their duties more efficiently.

 

He highlighted Ethiopia's status as one of the fastest-growing economies globally, projecting over 8 percent GDP growth for the current fiscal year.

Gedion stressed the importance of economic diplomacy in advancing Ethiopia's reform agenda, which encompasses attracting foreign direct investment, enhancing trade relations, and gaining access to international financial resources.

The government is implementing a strategy to improve national production and trade balance by leveraging foreign investments and negotiating favorable trade agreements, particularly under the African Continental Free Trade Area, Gedion added.

Various efforts, including expanding infrastructure, and encouraging diaspora engagement, among others, are instrumental to boost investment through the diplomatic guide.

 

Finance Minister Ahmed Shide on his part reiterated mentioned about the significance of the diplomatic guide, describing it as a critical tool that aligns with Ethiopia’s national economic reform.

The guide would enable diplomats to understand the transformative vision of the Home-Grown Economic Reform initiative in fostering sustained and inclusive growth, he added.

 As Ethiopia enters into the second phase of the Home-Grown Economic Reform, the guide is critical for strategic engagement with the international community to mobilize resources and expand trade partnerships, he emphasized.

Finally, the finance minister reaffirmed the government's commitment to transparency and fiscal responsibility, stressing that the diplomatic guide would help to advance Ethiopia's development anchored in resilience, opportunity, and shared prosperity.