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Ethiopia and China signed a memorandum of understanding to promote the development of trade between the two countries.

The agreement stipulated that the nations exchange information on trade policies, investment opportunities, taxation, legislative changes and general national economic status.

China is a proven ally of Ethiopia as witness by the ever growing economic relations between the two countries said Mulu Solomon, President of the Ethiopian Chamber of Commerce and Sectoral Associations.

The Addis Ababa Chamber of Commerce and Sectoral Association reached a partnership agreement with the Ethiopian Development Research Institute.

The collaboration between the two organizations is intended to enhance development in the private sector through improving the low performance seen in the areas of business competition, managerial skills and lack of flexibility.

Profit in the market generally arises from efficiency but traditional practices in the Ethiopian market allow dominant traders to benefit from largely inefficient means which is abnormal explained Newai Gebre-ab, Executive Director of the EDRI.

Leather exports from Ethiopia earned 11.7 Million US Dollars in revenue in the month of June according to the Ethiopian Leather Technology Development Institute.

The revenue was earned through the export of products that include finished leather good such as shoes and gloves noted Birhanu Sirjabo, Director of communications with the Institute.

The amount earned in the month is 4 million US dollars more than what was earned in the month of May he claimed.

Ethiopian Airlines made its maiden flight to Toronto this week landing at Pearson International Airport. Toronto will be the second destination for the airline in North America next to Washington D.C.

The flight was commemorated by an event attended by Ato Deriba Kuma, Ethiopian Minister of Transport, Ms.  Michèle Lévesque, Canadian Ambassador to Ethiopia, Mrs. Hazel McCallion, Mayor of Mississauga, Mr. Howard Eng. President and Chief Executive Officer of Greater Toronto Airports Authority.

The flight was welcomed with music, a water salute and dance performance at the terminal, ribbon cutting and cake.