Speaking at the opening ceremony of the joint session of the 6th and the 4th tenure of House of People’s Representatives and House of Federation, President Taye emphasized Ethiopia’s dedication to pursuing foreign policy initiatives that prioritize peace and cooperation with neighboring countries.
In his address, the President acknowledged the challenges facing Ethiopia, particularly regarding the Memorandum of Understanding (MoU )signed with Somaliland.
He affirmed Ethiopia’s commitment to remaining a stabilizing force in the region. “Our country is dedicated to continuing its constructive efforts toward regional peace, guided by the principle of give-and-take,” he stated, underscoring the vital role of diplomacy in resolving ongoing disputes.
A key focus of Ethiopia’s foreign policy has been its relationship with Somaliland. President Taye noted that tensions have emerged following the MoU, leading to undesirable disputes.
The Ethiopian government is actively working to de-escalate these tensions while countering slanderous campaigns aimed at discrediting the nation. “Our diplomatic efforts are concentrated on preserving Ethiopia’s positive standing in regional peacemaking processes,” he added.
Ethiopia has taken a firm stance on the conflict in Sudan, engaging both bilaterally and through the Intergovernmental Authority on Development (IGAD) platforms. The president emphasized that Ethiopia’s commitment to the Sudan peace process will continue until lasting peace is achieved.
In addition to regional diplomacy, President Taye highlighted Ethiopia’s strengthening relationships with key global powers, particularly in the Gulf region. “Diplomatic ties with nations possessing significant military and economic influence are now firmly established. Ethiopia’s growing cooperation with strategic partners has been further enhanced by its recent membership in BRICS,” he noted.
On the economic front, President Taye outlined ambitious goals for the 2024/25 fiscal year. He projected the country’s economy to grow by 8.4%, with government revenue from tax and non-tax sources expected to reach 1.5 trillion Birr. The export sector is anticipated to experience significant growth, with income from value-added commodities projected at 5 billion USD and total export revenues expected to reach 10 billion USD.
Foreign Direct Investment (FDI) is projected to see a sharp increase, with expectations of over 5 billion USD flowing into the country. Job creation remains a major focus of the government’s economic plan, with President Taye announcing an aim to create 4.3 million new jobs, including 700,000 positions specifically targeted at foreign employment seekers.
Sustainable development is a top priority for Ethiopia, with key initiatives in climate-resilient agriculture, fiscal policy reform, and the expansion of the construction and service sectors. “With the recently introduced macroeconomic reforms and the second phase of the Homegrown Economic Reform, we are confident in achieving our growth targets,” the president remarked.
The appointment of Taye-Atseke Selassie as the new president was endorsed during the same session, following his previous role as Ethiopia’s Foreign Minister. His remarks convey a clear vision for Ethiopia’s regional and global role, supported by a robust economic agenda for the years ahead.
