Ethiopia and Vietnam are cooperating in various fields. Among these are culture, economics, trade, science-technology and investment. However, the economic relationship remains modest.

The two countries first established diplomatic relations in 1976.

Ethiopia is a country situated in the Horn of Africa with a population of nearly 100 million. Agriculture remains a major part of the Ethiopian economy, accounting for 46 per cent of its GDP. Ethiopia is known for coffee, cotton, fruits, pepper, sugarcane and timber. The country also has Africa’s largest livestock population and the world’s tenth largest, providing meat, milk and leather for the processing industry.

Considered as a model for economic development in Africa, Ethiopia is the fastest-growing economy in the region, with its income per capita increasing by four times during the 2009-2017 period. It is seeking to privatise the banking, insurance and telecommunications sectors.

Vietnam’s export turnover has increased 21.2 per cent year-on-year.

Commitments for international integration have been implemented, helping reduce import-export taxes. A favorable business environment had aided export activities.

The country’s garment export turnover accounts for four per cent of the world’s total turnover. Total import-export turnover in the first seven months of this year rose by 12.7 per cent from the same period last year.