PAIPED signs agreement to explore Omani non-oil export potential in Ethiopia 

The Public Authority for Investment Promotion and Export Development (PAIPED) has signed an agreement with Advanced Business Consultant (ABC) to explore export opportunities to Ethiopia.The market study will provide a comprehensive insight into the economy of Ethiopia and identify new avenues for Omani non-oil products as part of PAIPED's strategy to increase the Sultanate's trade portfolio.

The East African country is considered to be one of the fastest growing economies in the world as it currently undergoes a policy change to privatize former state-run industries and boost private sector growth to support the transformation of the nation. The study will examine the potential market share for 60 Omani products including food, stone, pharmaceuticals, cables, aluminium and plastics to determine whether Omani companies should seek partnerships with Ethiopian importers.

Nasima Al Balushi, PAIPED's Director General of Export Development, said, "Ethiopia is an emerging market that can become a key trading partner for Oman. The market research process will include meetings with Omani exporters in target sectors to map their product specifications and capacities. We will explore what support is required before entering the next stage and contacting Ethiopian importers to understand their needs." 

Al Balushi added, "PAIPED's strategy is to target each market and compile detailed reports that will provide Omani companies with a complete picture of growth areas. The completed Ethiopia report will allow us to coordinate with interested Omani exporters and organise networking meetings and promotional activities thereby maximising the benefits at every stage of the supply chain."

The Ethiopian economy has traditionally been reliant on agriculture, which accounts for almost half of the gross domestic product (GDP) and 85% of total employment, but the shift from nationalised industry to private enterprise has ignited a construction boom that has in turn galvanised a variety of sectors. Ethiopia currently imports $10.6bn worth of goods annually to meet the needs of the country. The key imported commodities include petroleum, chemicals, machinery, automobile parts and textiles, as well as food and livestock. 

Africa's second most populous country, almost half of whom are under the age of 18, has recorded an annual growth of between 7% and 10% each year since 2004, according to an IMF report. The demand for suppliers to facilitate large scale national projects has therefore opened Ethiopia to the possibility of further foreign investment and created opportunities to invest in the country's ambitious modernisation programme.