Malaysia, Ethiopia Need To Facilitate, Expedite Economic Cooperation - PM Anwar
From M. Saraswathi
ADDIS ABABA (Ethiopia), Nov 19 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim said he will speak to his Ethiopian counterpart Dr Abiy Ahmed Ali on doing all that is necessary to facilitate and expedite economic cooperation between Malaysia and Ethiopia.
“The respective ministers, investment agencies and high-level business communities from both countries are here.
“We must do whatever is necessary. And I think I would say this, and I would certainly reiterate this in my meeting with Prime Minister Abiy,” he said at the Ethiopia-Malaysia High Level of Business Forum here which was attended by 200 business representatives.
There were 54 Ethiopian companies at the event, including 22 from the manufacturing sector, 29 in services, and three government agencies.
There were also more than 70 Malaysian business representatives.
Also present were Ethiopian President Taye Atske-Selassie Amde; Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz; Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Zaliha Mustafa; Ethiopian Minister of Trade and Regional Integration Kassahun Gofe; and Ethiopian Investment Commission commissioner Zeleke Temesgen.
Anwar, who is also the Finance Minister, said it is vital for the processes to be hastened not only because Ethiopia has a very important role in the region and the African Union headquarters is in the country’s capital, but also because Ethiopia offers enormous potential and reforms that make the country attractive for investment.
Earlier in his remarks, Taye Atske-Selassie, who congratulated Anwar for his success as the ASEAN Chair in 2025, said both Malaysia and Ethiopia are charting a new path.
“We meet in a different world, environment, geoeconomics and geopolitics. We are here to reimagine and calibrate economic ties for this new reality that demands for the countries to forge a more meaningful partnership.”
He said Ethiopia has reform programmes that set the foundation for its businesses, trade and investment environment.
“First, we have built an enabling investment ecosystem. We are fortunate to have a progressive regulatory framework and are positioning ourselves at the forefront of connectivity,” he said.
He said the country is also unlocking its strategic sectors, especially the agriculture sector as works are underway for food security.
Taye Atske-Selassie also said the trade imbalance between both countries, which is in Malaysia’s favour, is not a problem but a great opportunity.
“We don't see this imbalance as a problem. We see it as a great opportunity. We invite you to invest, manufacture and prosper here,” he said.
Ethiopia, the most populous landlocked country in the world, ranked as Malaysia's 26th largest trading partner in the African continent in 2024.
The value of bilateral trade between Malaysia and Ethiopia stood at RM625.6 million, with exports from Malaysia valued at RM579.9 million, representing a 50 per cent rise from the previous year.
Malaysia’s exports to Ethiopia are mainly electrical and electronic products, palm oil and palm oil-based agricultural products, chemical and chemical products, and textiles, apparel, and footwear.
Imports from Ethiopia include agricultural products, transport equipment, and metalliferous ores and metal scrap.
-- BERNAMA