DPM & FM Demeke Says EU’s Support to Ethiopia Plays Crucial Role to Build Robust Economy

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DPM & FM Demeke Says EU's Support to Ethiopia Plays Crucial Role to Build Robust Economy
DPM & FM Demeke Says EU's Support to Ethiopia Plays Crucial Role to Build Robust Economy

Africa-Press – Ethiopia. EU-Ethiopia structured dialogue was held in Addis Ababa today in the presence of ambassadors of EU and member states.

Speaking at the occasion, Demeke said convening this dialogue demonstrates the commitment of the Government of Ethiopia to further strengthen its relations with the European Union and member countries.

A strategic partnership agreement with the European Union has paved the way for today’s event, Demeke said adding that recently, the signing of the Multiannual Indicative Program in October 2023 is indicative of our commitment towards strengthened relations.

This program promises to play a significant role in the reconstruction and macroeconomic recovery efforts of Ethiopia, he added.

“Our cooperation is strategic, as Ethiopia and member states of the European Union have enjoyed historic relations. These longstanding relations have been further strengthened in a structured manner. Recently, the support of the EU and its member states to Ethiopia compliments our efforts to eradicate poverty and foster inclusive and sustainable development.”

The deputy premier and foreign minister said we both share the critical importance of protecting and promoting human governance to build a stable and sustainable growth.

The support for Micro, Small and Medium-sized Enterprises, the enhancement of human capital, and a well-trained labor force are all decisive for our development efforts, Demeke noted.

“Ethiopia and the EU share a vision for a peaceful, safe, and stable Horn of Africa region. Stability is crucial for the political, economic and social development of the region. The problem of peace and stability in the horn is a source of common concern for Ethiopia and the European Union,” he said.

Demeke also said the EU and its member states have a major role to play in Ethiopia through technical expertise in supporting the reconstruction and rehabilitation of societies affected by natural disasters as well as conflicts.

EU Ambassador to Ethiopia Roland Kobia on his part said the EU has been one of the strongest supporters, and lobbyists in favour of Africa, for the accession of the African Union to G20 and also adopt similar positions at the UN Security Council so that Africa can be better represented.

The EU has kept its markets open for Ethiopian exports to the single market tariff free, quota free, through the highly preferential and non-reciprocal trade scheme called Everything But Arms (EBA), Ambassador Kobia recalled.

Over the last decade, Ethiopian exports to the EU under the EBA have been growing on average to 6 percent, he said, adding, in the last five years, the total value of exports to the EU amounted to 3.1 billion Euro.

As for investments, the total investment stock of European companies operating in Ethiopia has reached 2.5 billion Euro.

“EU has maintained development cooperation with the country throughout, without interruption. We are proud to say that the overall EU envelope of one billion Euro that had been set some years ago for Ethiopia has not been reduced by a single Euro, against all odds,” he said.

The ambassador reiterates that EU is a real partner of Ethiopia when it comes to peace and he added without peace and security, there is no development and we are ready to support Ethiopia on the way to peace and stability.

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