The UAE government is entering into a trade and investment agreement with Ethiopia.
The UAE ranks second in Ethiopia’s trade and investment among Arab countries after Saudi Arabia.
Ethiopia is the 3rd largest gold exporter in the Arab world.
It also exports coffee and livestock to Arab countries.
Ethiopia is a large trading market, and the UAE wants the Ports of Fujairah and Jabal Ali to be the first source of imports from Ethiopia.
The UAE is worried about the ports of Turkey, China and Jida to take over the export of Ethiopian goods.
The world is currently competing for economic relations in the Horn of Africa, especially Ethiopia and Kenya.
There is great disappointment in the world over the lack of recovery in Somalia.
Arab countries want to strengthen their economic role in the Horn of Africa.
Europeans are also shifting their investments from Asia.
China, Turkey and Russia are also a big part of the competition, and each party is working hard to win the market in the Horn of Africa.