Diplomacy
Sri Lanka Proposes Investment and Trade Ties with Ethiopia
BirrMetrics · 2 weeks ago · Read the Full Story on BirrMetrics
AI SUMMARY
Sri Lanka has proposed investment and technology partnerships with Ethiopia and the Horn of Africa, though no official deals or financing commitments have been finalized.
- Nirmala Paranavitana, Sri Lanka's new permanent representative to the United Nations Economic Commission for Africa (UNECA), initiated bilateral discussions with UNECA Executive Secretary Claver Gatete in Addis Ababa.
- The talks covered potential cooperation in technology transfer, agriculture, private-sector partnerships, and energy, but did not result in signed agreements, financial commitments, or timelines.
- Both nations are navigating recovery from economic crises, with Sri Lanka restructuring its 2022 external debt default and Ethiopia restructuring after its 2023 Eurobond default.
- Proposed areas of collaboration for Ethiopia specifically include youth entrepreneurship, digital skills, textile development, and dairy and food manufacturing.
- Sri Lanka's broader regional proposals include maritime security and fisheries cooperation with Somalia, shipping and logistics with Djibouti, and a disaster management center in Chad.
- UNECA Executive Secretary Claver Gatete urged Sri Lankan businesses to focus on regional value chains, such as mini-hydropower, medical manufacturing, and agricultural processing, using Ethiopia as a potential pilot market.
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