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A high level study being conducted by various government institutions to form a new is new corporation in Ethiopia is near completion. The new corporation known as the Ethiopian Trade Enterprise will be a merger of three public enterprises: The Merchandise Wholesale and Import Trade Enterprise, The Procurement Services Enterprise and the Building Materials and Supplies Enterprise.

The study has been in progress for the past six months conducted by a committee made up of officials from various institutions such as the Ministry of Finance and Economic Development, Ministry of Trade, and the Ministry of Industry.

The committee, chaired by Neway Gebreab, Economic Advisor to the Prime Minister, is in the process of recruiting employees for the new corporation said a non-authorized source.

Israel is interested in sharing expertise and technology in the areas of agricultural extension, research, irrigation, livestock and poultry development among other areas with Ethiopia according to Orit Noked, Minister of Agriculture and Rural Development of the State of Israel.  

It is important to Israel to share agricultural expertise with Ethiopia said Noked at a  meeting held with Hailemariam Desalegn Deputy Prime Minister and Minister of Foreign Affairs of and Tefera Deribew, State Minister for Agriculture.

The two sides agreed to establish a technical committee to identify areas of common interest to enhance bilateral relations between the two countries in the area of agricultural development.

Ethiopia is set to privatize six enterprises through auction as the financial year winds down. Ghion Hotel and Awash Winery are expected to be part of the six according to sources.

The minimum price set for Ghion Hotel is expected to be between 100 and 150 million US dollars whereas the indicative price for Awash Winery will be set at 438 million birr according to unofficial sources.

This was not confirmed by Wondafrash Assefa, Director of Corporate Communications for the Privatization and Public Enterprises Supervising Agency.

The House of Peoples Representatives Ethiopia ratified a double taxation avoidance agreement reached with China, Egypt, India and Sudan.

The agreement means that business owners that are nationals of these countries or Ethiopian business people operating in their jurisdiction will not be required to pay tax on the same declared income.

Taxable gains in one country will not be taxed twice by the country in which the gains are earned and in the country of residence of the business person.