“There are many good areas in Ethiopia for Korean businesses to invest”

By Publisher Lee Kyung-sik with Vice Chairman Jang Chang-yong, Managing Editor Kevin Lee

Many Korean companies in some countries around the world find changing investment and business operation climates and seek new destination countries. And there are many countries who welcome them for win-win cooperation between the two countries as well as successful business by the investing companies in their countries.
And one of the good-prospect countries in the world appear to be the Federal Republic of Ethiopia.
This country is the 8th among the 16 countries of the United Nations, who dispatched her troops to the rescue of the Republic of Korea in 1950 when the country was in dire need of outside help to protect her sovereignty from the Noth Korea invasion forces.

Now, the Republic of Korea, largely considered to be a G-8 country of the world has many business companies to investment in the outside world and one of the best destinations seems to the Federal Democratic of Ethiopia.

The Korea Post media, publisher of 3 English and 2 Korean-language news publications since 1985 and led by former editors of The Korea Herald and The Korea times, recently interviewed Ambassador Dessie Dalie Dumako at his office at the Embassy of Ethiopia in Seoul. Details of the interview follow:

Question: Many Korean business companies wish to investment in promising countries like Ethiopia. What are the areas in Ethiopia where Your Excellency would wish such Korean companies to invest in Ethiopia?

Answer: There are many areas in Ethiopia where Korean business companies can invest and the potential investment areas them include:

Metal and metal making, construction, textile, apparel, and garment.
There also are other areas which include mineral, transport and energy.

Q: What are the Korean products and services that your country might wish to import?

A: They are machineries (construction materials, cars, electronics etc.), medicine, pharmaceutical materials, plastic products and organic chemicals.

Q: Who are the major Korean companies actively engaged in bilateral economic cooperation between the two countries? Please introduce them in detail in the order of size and scale of business activities.

A: Steel making companies such as EKOS

Textiles and apparel such as Shints Solution and Young One Corporation

Health facilities such as Korean hospitals

Construction such as road construction

Coffee importers such as EDIYA coffee and Cobeans

Q: As a very precious country to Korea, please introduce of the National Day of Ethiopia.

A: There is no determined national day. But we do have national victory days like Adwa, which is victory day over colonizers. We do also have Patriots or Veterans’ Day (Arbegnoch) to commemorate our heroes against Fascist invaders. On the other hand, we do have many religions and cultural festivities.

Q: Please introduce the Head of Government of Ethiopia and also the First Family (if applicable).

A: In our government system we do have Head of State and the Head of Government.

The form of Government is federal republic with two legislative houses as follows:

1. House of the Federation [153]; basically, oversees constitutional issues, resource allocational between regional governments and so on.

Assigned by regional parliament.

2. House of Peoples’ Representatives [547]), basically legislative body comprised by directly elected members through general election held every 5 years.

Our Head of State is President Sahle-Work Zewde.

And our Head of Government is Prime Minister Abiy Ahmed.

Q: What is the present volume of bilateral trade with Korea and its outlook in the next 12 months?

A: As of 2021 the trade volume between the two countries is about 290 million USD. In 2021 Korea exported to Ethiopia 208 million USD. The main export products are large construction materials, medicine & pharmaceutical materials, plastics and organic chemicals.

South Korean export to Ethiopia grown 38 million USD in 1995 to 208 million USD in 2021 (6.67 times)

On the other hand, Korea imported 82 million USD as of 2021 and the main products includes coffee (76.2mln USD), oil seeds and cut flowers.

In the last 26 years, the exports of Ethiopia increased at annual rate of 13.5% from 3.03 million USD in 1995 to 82 million USD in 2021. But yet to do more to expand trade and investment relationships between the two countries due to its comparative advantage. Ethiopia is a best destination for Korean businessmen.

Ethiopian Airlines is the best airlines in the African continent and it is connecting Asian countries ton rest of African and middle east countries.

Q: What are your competitive products and/over services attractive to Korea? Who are the companies of your country exporting your products to Korea?

A: Coffee, oil seeds, pulses, cut flowers, vegetables and animal products.

Ethiopia is a birth place of Coffee Arabica and Ethiopian coffee is the best quality coffee with unique flavor. Ethiopian coffee is known globally. Koreans are importing Ethiopian coffee and we are expecting to increase the volume.

Q: Korean people, especially the up-and-coming Korean businessmen need rest and recuperation. What are your tourist attractions?

A: Ethiopia is a land of origins and diversity. There are different tangible and intangible UNSECO registered heritages to be visited. To mention some; Gonadr Fasilades Ginb, Ancient Laibella churches, Semen Mountain Park, Axum monument, Bale Mountain Park, Konso terrace etc.

Addis Ababa currently becoming tourist attraction destination due to different tourist attraction infraction.

Q: What are the most important festive days in your country? Please elaborate.

A: Meskel, Timket. Ireecha, Fichee Chambalala are colorful festivities which annually many tourists make a visit.

Q: Do you have Honorary Consul(s) in Korea? If yes, how are they contributing to the promotion of cooperation and friendship between the two countries?

A: Yes, Our Honorary Consular at Busan Mr. Kim Sanjin is working hard to connect Korea and Ethiopia. His contribution is indispensable

Q: Your Excellency as the Ambassador of your esteemed country perform the important role of a bridge between the two countries. And the government, business and various other circles in Korea wish to learn more about Your Excellency. Please introduce yourself in detail, including your career, family and hobbies.

A: My name is Dessie Dalkie Dukamo.

Married and have four children (two daughters and two sons)

I have been working as government official at different levels starting from district level to Federal government as Minister, regional governor and so on.

For the last 20 years, I got good experience in the areas of governance and leadership in different sectors and levels.