Muscat: The third export to Ethiopia workshop, organised by Ithraa to highlight the potential of the world's twelfth fasted-growing economy, concluded in Salalah with positive feedback from local businesses.
Based on an in-depth market study, 59 Omani products have been identified to compete in Ethiopia, including food, stone, pharmaceuticals, cables, aluminum and plastics.
Research suggests that rising incomes and the growth of urban populations across Africa will sustain high levels of economic growth over the next ten years, and this will lead to increased demand for consumer products. This growth offers Omanis companies exciting opportunities.
Rapid urban expansion
The Ethiopian economy has experienced consistent growth over the last decade, reaching 9.7 per cent in 2012-13. With 80 per cent of the 84 million inhabitants living in rural areas, agricultural products account for 42.7 per cent of gross domestic product, while the rapid urban expansion has led to a rise of nearly 20 per cent in the demand for consumer goods and services.
The outcome of the Ithraa study has formed the basis for three roadshow events in Sohar, Muscat and Salalah providing Omani companies looking to penetrate Africa with a comprehensive overview of how to enter the Ethiopian market.
The sessions also highlighted demand and trends in light of Ethiopia's recent infrastructure boom.