Ethiopia, Canada Discuss Deepening Ties Under New Africa Strategy

Addis Ababa, July 20, 2025 (FMC) — Ethiopia’s Minister of Finance, Ahmed Shide, held a high-level meeting with Randeep Sarai, Canada’s Secretary of State for International Development, to discuss ways to deepen bilateral cooperation and advance shared development priorities.

During the meeting, Secretary Sarai presented Canada’s newly launched Africa Strategy, a comprehensive foreign policy framework aimed at fostering mutually beneficial partnerships with African nations based on shared priorities and values.

He emphasized Canada’s strong interest in expanding collaboration through continental and bilateral frameworks, including the African Continental Free Trade Area (AfCFTA) and the Foreign Investment Protection Agreement (FIPA).

According to Sarai, the strategy is designed to drive long-term economic prosperity, fairness, and security for both Canadian and African partners, while also contributing to global peace, health, and development.

Minister Ahmed Shide welcomed the initiative and reiterated Ethiopia’s commitment to regional integration and economic cooperation. He noted that Ethiopia has ratified the AfCFTA and remains actively engaged in FIPA-related negotiations.

The Minister also briefed the Canadian delegation on Ethiopia’s current macroeconomic outlook, highlighting the bold and transformative reform agenda undertaken since the country entered into a program with the International Monetary Fund (IMF) in July 2024.

Over the past year, Ethiopia has launched a comprehensive package of fiscal, monetary, exchange rate, and financial sector reforms aimed at achieving high and stable economic growth, curbing inflation to single digits, and building a globally competitive economy.

He pointed out that improved revenue mobilization has enabled greater investments in social services and infrastructure. On monetary policy, the government has introduced new instruments to enhance liquidity management and price stability, with inflation showing a consistent downward trend—an indication of strengthening macroeconomic fundamentals.

Secretary Sarai commended Ethiopia’s reform efforts and expressed appreciation for the warm reception.

He reaffirmed Canada’s continued support, noting that Ethiopia remains one of the largest recipients of Canadian international assistance.

The meeting concluded with both sides reaffirming their commitment to strengthening cooperation and working together to advance inclusive and sustainable development.