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Ethiopia and Botswana Sign Bilateral Agreement

Ethiopia and Botswana have signed a bilateral agreement designed to enhance the air transport sector. The agreements were a part of bilateral discussion headed by Phandu Skelemani, Minister of Foreign Affairs and International Cooperation for Botswana and Dr. Tewdros Adhanom, Ethiopian Foreign Affairs Minister.

The bilateral transport agreement was signed by Diriba Kuma Ethiopia Minister of Transport and Skelemani. The agreement is a sign of the commitment of both countries to enhancing their existing relationship said Diriba.

It is expected that the agreement will contribute to cultural as well as trade relations between the two countries according to Diriba. Add a comment Add a comment

ERCA Launches Web Based Pricing

The Ethiopian Revenue and Customs Authority is to introduce a new advanced commodity valuation system which is expected to assist with ensuring a fair customs tax system it was announced at a discussion organized by the authority.

The authority introduced the new web based customs valuation database in exchange for the previous CD based valuation system as of last week.

It is expected that the new software will resolve issues with the previous system and enable the Ethiopian customs valuation system to meet the standards set by the World Trade Organization. The new database was installed by Indian company Center for Development of Advanced Computing. Add a comment Add a comment

Etihad Airlines Seeks Increased Access to Ethiopian Market

Etihad Airlines seeks increased access to the Ethiopian market as the Ethiopian Civil Aviation Authority's invitation for negotiation with its counterpart in the United Nations to realize a Bilateral Air Transport Service Agreement is yet to be answered.
Bilateral agreements are a standard procedure between national aviation agencies as recommended by the International Civil Aviation organization (ICAO) and the Chicago Convention as well as meaning transparent relations said Colonel Wossenyeleh Hunegnaw, Director General of the Ethiopian Civil Aviation Authority. Add a comment Add a comment

Eleni Gebremadhin Goes Private

Eleni Gebremadhin, founder and first CEO of the Ethiopian Commodity Exchange, announced the launch of Eleni LLC a company which specializes in the development of exchange markets in Asia and Africa. The new company is funded with equity contribution from the International Finance Corporation and Morgan Stanley.

The new company to be based in Nairobi was founded by Eleni and two other partners, Jawad Ali and Keith Thomas. Morgan Stanley contributed 5 million US dollars of the 7.5 million founding capital of the company and the IFC covered the rest. Another financier, ‘The 8 Mile Fund' may also invest in the new company soon according to sources. Add a comment Add a comment

ERCA to Release Goods to Importers to Alleviate Congestion

The Ethiopian Revenue and Customs Authority is to release goods congesting dry ports around the country to importers who provide payment guarantee from their banks to help alleviate congestion.

The Ethiopian Shipping and Logistic Service Enterprise will provisionally cover the demurrage and storage cost estimated at about 400 million birr according to sources.

The authority currently has more than 2 billion birr that it expects to earn from customs tied up in imports stockpiled at the dry ports. The congesting has also been helped by the ELSE’s limited capacity to process the goods and because importers have been unable to meet the financial demands said the sources. Add a comment Add a comment