Policy of Economic Diplomacy Paying Off: MoFA

Ethiopia’s foreign policy of economic diplomacy is paying off as increasing number of foreign companies are preferring Ethiopia for investment, claimed the Ministry of Foreign Affairs (MoFA).

The ministry acknowledges efforts made by the Ethiopian diplomats stationed across the world for results attained in attracting outside investment.

All the successes achieved over the past years were the fruits of May 28, according to Tewolde Mulugeta, MoFA Spokesperson.

In an exclusive interview with ENA, Tewolde said Ethiopian ambassadors and diplomats have contributed positively in lobbying more foreign investment to the country.

During the first Growth and Transformation Plan (GTP-I) period, more than 3,500 foreign investors received licenses to do business in Ethiopia including in manufacturing and agriculture fields.

Tewolde says the country’s conducive investment atmosphere is the fueling factor for the flourishing economic diplomacy with other countries.

The ministry also succeeded in soliciting finance and promoting the country’s positive image which add up to putting the country on better economic status.

The Spokesperson also mentioned the expansion of infrastructure among the driving elements of Ethiopia’s economic diplomacy with neighboring countries.

”Ethiopia is undertaking successful road, railway, power grid installation activities with Sudan, South Sudan, Djibouti, Kenya, Somalia, among other countries to bolster its economic diplomacy,” Tewolde elaborated.

Depty Director for International Relation and Foreign Policy at Civil Service University, Dr. Mohamud Ahmed on his part said Ethiopia is one of the few African nations that managed to establish successful economic diplomacy that bolstered its economy.

Dr. Mohamud paid tribute to the sound policies and strategies of the country which helped create successful economic diplomacy with countries in the region.

He said Ethiopia has become one of the leading and influential states in the region due to its blossoming economic diplomacy.

The director elaborated that successful hosing of big international conferences and seminars such as Finance for Development (FfD), US-Africa, Japan-Africa, Tana Foundation is a practical demonstration of Ethiopia’s successful diplomacy.

Presiding over some of the critical agendas of the world also enabled the country to promote its positive image, the scholar added.

Source: Ethiopian News Agency