According to statistical data direct trade between Ethiopia and Norway is limited. In a globalized world such statistics sometimes dilutes the facts. As an example the Norwegian company Yara is one of the main suppliers of fertilizer to Ethiopia, but as the fertilizer is produced in their factories in other countries it is not reflected as Norwegian-Ethiopian trade. A number of Ethiopian export products to Norway, like coffee and roses, are traded on exchanges and not imported directly, and therefore also not reflected in statistics.
However, trade and investments are too low, and below the potential, between the two countries.Foreign Minister Seyoum Mesfin focused on this in all his meetings on his recent visit to Norway, and urged Norwegian companies to take advantage of the favourable business climate in Ethiopia.
Sometimes perceptions prevent business development. Thus, in a day-long Conference in Oslo in February I presented Ethiopia as a very promising business destination to representatives of 300 Norwegian businesses with the explicit aim of changing perceptions and attracting more Norwegian businesses to Ethiopia. Ethiopia has gone a long and positive way the last few years, but could still improve its act in facilitating more investment by easing regulations for investment further and improving the whole value chain for exports.
The Embassy appreciates the good cooperation with all agencies responsible for trade and investment in Ethiopia and will leave no stones unturned in trying to tap the potential for increased trade and investment. Honey was one new item being exported to Norway to Ethiopia as from last year. I would expect even sweeter figures of trade in the years to come.
Read more articles from the Embassy's business enclosure here.