Addis Ababa, June 5, 2024 (FBC) – Ethiopian and Singapore have reaffirmed their commitment to strengthening the longstanding bilateral relations between the two nations.
The commitment was made during a meeting today between Mr. Ahmed Shide, Minister of Finance of Ethiopia, and Ms. Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Finance and Second Minister for National Development of the Republic of Singapore.
Note that the Ethiopian Finance Minister is in Singapore as part of Prime Minister Abiy Ahmed’s ministerial delegation.
During the discussions, Minister Ahmed Shide highlighted the historic ties between Ethiopia and Singapore, dating back to the visits of Singapore’s first Prime Minister in 1974 and Emperor Haile Selassie I in 1968.
He extended an invitation to Singaporean companies to explore investment opportunities and public-private partnership ventures in Ethiopia, a rapidly expanding economy with a population of over 120 million.
Recognizing Ethiopia’s ongoing financial reforms, Minister Ahmed Shide pledged to advance the financial and economic ties between the two countries, emphasizing the market liberalization efforts in Ethiopia’s financial sector.
In response, Minister Indranee Rajah underscored Singapore’s willingness to foster potential business partnerships between Ethiopian Investment Holdings (EIH) and Singapore’s Temasek Holdings.
She expressed gratitude for the official delegation’s visit to Singapore accompanying the Prime Minister of Ethiopia and vowed to further strengthen the two countries’ financial and economic relations.
Moreover, Minister Rajah pledged to collaborate with Ethiopia in exchanging knowledge and experiences in the fields of economy and finance.
She emphasized the significance of multilateral cooperation in addition to bilateral partnerships to bolster the economic relationship between the two nations.
The meeting marked a significant milestone in the longstanding friendship between Ethiopia and Singapore, paving the way for enhanced cooperation in investment, finance, and economic development.
