Ethiopia, Colombia Working to Elevate Ties to Robust Business Partnership

Addis Ababa, August 26, 2025 (ENA) -- Ethiopia and Colombia have committed themselves to transforming the long-standing diplomatic relationship to a more robust business partnership, with both countries identifying the opportunities for investment and trade.

This push came as a high-level Colombian trade delegation, including representatives from various sectors, held a visit to Addis Ababa with the aim at exploring investment prospects and strengthening commercial bonds.

During a business roundtable discussion, officials from both sides emphasized that the timing is right for a deeper economic connection.

Ethiopia's Trade and Regional Integration State Minister Yasmin Wohabrebbi said, "With a population exceeding 120 million, Ethiopia offers a significant domestic market and, through the African Continental Free Trade Area (AfCFTA) a gateway to a continent of 1.4 billion people.’’ 

 

She elaborated that the government has been implementing a range of macroeconomic structural reforms to attract foreign direct investment.

These include opening up sectors previously restricted to domestic businesses, such as banking and import-export trade.

The establishment of special economic zones and the availability of abundant, affordable renewable energy from sources like the Grand Ethiopian Renaissance Dam (GERD) further enhance the country’s investment climate, she added.

Colombia's Commerce Vice Minister, Felipe Quintero, said this is the start of a new chapter in terms of commerce and trade for the countries.

Acknowledging that bilateral trade between the two nations is currently small, he emphasized the growth potential.

 

According to him, the combination of the Colombian delegation from the cosmetics, textile, and pharmaceutical industries signals Colombia’s intent to diversify trade with partners.

Colombia needs to diversify markets and look for different and new sources for raw materials, he added, pointing out that this drive to find new commercial allies is a strategic necessity.

''We also want to talk about culture, commerce, and to ultimately create an ecosystem in these terms. In this regard, we have talked with the different Ethiopian authorities, including the Prime Minister, and the President, in order to create a partial agreement that covers some goods that are of interest of both countries."

And, also to eliminate mutual tariffs, so that both countries can benefit from trade.  "So, I would  like to mention that we are looking for commercial allies in terms of countries; and this is not just randomly, this is a necessity.''

Moreover, the Vice President expressed hope that with further dialogue, new air routes can be established to facilitate trade.