The Ethiopian and Kenyan governments signed a Special Status Agreement to facilitate trade between the two neighbors.
Ethiopia is committed to enhanced trade and investment between the two countries according to Hailemariam Desalegn, Ethiopian Prime Minister speaking at the time.
Trade between the two countries should particularly focus on textiles, food complexes, agriculture, raw materials and well as value addition noted Hailemariam.
It is time for East Africa to invest in import substitution by taking steps to produce industrial goods at home he added. External investment will require infrastructural development and appropriate incentive packages for investors said Hailemariam.
The hospitality sector is also an area of priority to enhance tourism and the issue of visas and private charter operations will need to be discussed between Ethiopian and Kenyan officials to establish a means of progress he added.Trade between Ethiopia and Kenya has shown steady growth with Kenyan exports to Ethiopia standing at 56.4 million US dollars and imports at 4.3 million US dollars said Sam Ongeri, Kenyan Foreign Affairs Minister.
The Special Status Agreement is expected to offer a framework for engagement with bilateral investors especially in developing mutually strategic area as well as enhancing economic and commercial relation between the two countries said Ongeri.
Source: Walta Info
