Metal and Engineering Corporation of Ethiopia (METEC) signed a Memorandum of Understanding (MoU) with the government of Somalia to build industrial capacity of the latter. The agreement was signed on July 9, 2016.

The just concluded MoU, among other things, includes poverty reduction, job creation and strengthening peace and securities. It will also help Somalia to construct manufacturing sites, rehabilitate industrial places and also build its human capacity in the area.

Commenting on the development Somalia’s Minister for Foreign Affairs and Investment Promotion, Abdusalam H Omer, said METEC would enhance Somalia’s rehabilitation in the manufacturing sector. Ethiopia was the best example when it comes to investment and industrial promotion in the region, the agreement would enable Somalia to learn from Ethiopia’s practice, he furthered.

“We have a deep root in history, culture and have unbreakable people to people relationships. So we can build a better and sustainable future”, the Minister added.

METEC’s Director General, Major General Kenfe Dagnew, speaking on his part said the MoU would play a crucial role in reinforcing ties between 2 countries.

According to Ethiopian News Agency, METEC is expanding its services in the East African region and engaging in the markets of Uganda, Tanzania, Mozambique, Kenya and Rwanda.

Source: Ethiopian News Agency