Ethiopia and Somalia have come to an agreement to start negotiations on a bilateral trade pact, Ethiopia’s Ministry of Trade has said.
The agreement was reached on Wednesday after thorough discussion between Ethiopia’s State Minister of Trade and Regional Integration Denge Boru and Minister of Commerce and Industry of Somalia Khalif Abdi Omar.
“The two ministries have discussed and reached a consensus to negotiate and then sign a bilateral trade agreement,” said the ministry in a statement.
The deal, it said, will complement other regional integration efforts including COMESA and African Continental Free Trade Area (AfCFTA).
Both Ministers have also agreed to establish a joint trade committee that will facilitate conditions to further strengthen the two countries’ trade relations and increase trade volume.
The ministers pointed out the prioritized activities that promote the linkage between the business societies and encourage trade exchanges of the two countries, the Trade ministry said.
Accordingly, the ministers agreed to facilitate organizing business forums, expert exchanges and experience sharing programs.
Both officials expressed their commitment to a successful outcome that makes workers, farmers, and business People in both countries more prosperous, the ministry said in a statement.
MG/abj/APA