Addis ababa: The European Union (EU) will support Ethiopia's preparations to host the 32nd United Nations (UN) Climate Change Conference (COP32) and strengthen cooperation on environmental protection and green economic development, an EU official said.
According to Ethiopian News Agency, Adri¡n Cano Guerrero, Program Officer for Trade, Economic and Private Sector Development at the EU Delegation to Ethiopia, emphasized the EU's commitment to engaging closely with Ethiopia ahead of the global climate summit. Guerrero stated, "The commitment of the Ethiopian government to organize COP32 here in Ethiopia is something that the EU will be supporting and we will be having a very strong engagement on that."
Guerrero highlighted that the EU's involvement with Ethiopia extends beyond COP32 preparations, with climate change, environmental protection, and sustainable economic development emerging as key areas of collaboration. He acknowledged the EU as one of the international partners addressing climate change and environmental degradation, and emphasized that Ethiopia's COP32 preparations could open doors to enhance cooperation with Ethiopian institutions.
Guerrero also expressed the EU's interest in backing initiatives that incorporate climate action into economic activities, contributing to sustainable development. The cooperation could encompass areas such as environmental standards, water management, climate-resilient development, and the expansion of green economic activities.
The EU official mentioned plans to work with Ethiopian institutions to ensure that climate cooperation translates into broader economic and environmental outcomes. Guerrero welcomed Ethiopia's ongoing macroeconomic and structural reforms, noting the positive transformations in various sectors, including foreign exchange, governance, and state-owned enterprise reform.
"We really see the transformation that has been taking place on several realms: on FX, on the governance of certain institutions and on the SOE reform. We are really happy about it and we are trying to support them with our own actions," he said. Guerrero further explained that the EU's multisectoral engagement aligns with Ethiopia's national development priorities and includes support for sustainable agricultural value chains, digitalization, green energy, public-private sector engagement, and business environment improvements.
Additionally, he highlighted the EU's interest in Ethiopia's financial sector reforms, particularly the liberalization and privatization measures, and the operationalization of the country's capital market. The EU's planned engagement comes as Ethiopia intensifies preparations to host COP32 while pursuing economic reforms and climate-related development initiatives aimed at supporting sustainable and green growth.
