The Sultanate, which exported goods and services worth 40 million USD to Ethiopia in 2014, plans to hold an Omani products exhibition in Addis Ababa in April 2016. The main export items from Oman to Ethiopia include semi-finished goods, iron and polymers.
The Sultanate’s imports from Ethiopia are pegged at around five million USD, reflecting a favorable bilateral trade for Oman.
The Sultanate’s export promotion agency, the Public Authority for Investment Promotion and Export Development (popularly known as Ithraa), had conducted a market study in Ethiopia to assess the export potential of 59 Omani products. The survey was based on different sectors, such as foodstuffs, building material, furniture, marble, stones, textiles and vegetables.
The study was also conducted to find the consumption, demand and logistics patterns for these sectors.
Furthermore, in April this year, Ithraa had organized a business-to-business meeting for Omani businessmen in Addis Ababa, which was mainly aimed at showcasing Omani products for Ethiopian businessmen and traders.
About 29 Omani companies participated in the business-to-business meeting from different sectors, such as furniture and marble, and Omani companies were able to secure multiple business deals.
The Ethiopian market’s potential is huge as the country’s total exports are 5.7 billion USD, while its imports are 22 USD billion, according to the World Bank. Its main trading partners are China, Saudi Arabia and the United States.
The Ethiopian economy is growing at a rapid pace, with its gross domestic product pegged at 54 billion USD, and its per capita income estimated to be 568 USD in 2014, the paper pointed out.