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Ten government agencies and a trade association signed a Memorandum of Understanding (MoU) here in Ethiopia on Saturday, June 21, 2014 for the execution of project called One Window Technology for International Trade. The project is estimated to cost U.S $ 7.3 Million and expected to save the country 16 Billion Birr in two years time.

Sheba Investment Plc is going buy more shares of National Tobacco Enterprise (NTE) in order to get majority share of 60 percent of Ethiopia’s sole tobacco producer and distributor.

Repi Soap and Detergent S.C. signed a joint venture agreement with Wilmar International Limited for the purpose of upgrading the Repi manufacturing facility as well as building a new integrated manufacturing complex in the Oromia State, Sebeta town. Repi is a sister company of AL-SAM Plc and Wilmar is a Singaporean agribusiness group.

During the 4th Ethio-Canada Bilateral Consultation official of Ethiopia and Canada affirmed they will strengthen ties in the areas of trade and investment and also cement former deals.

Government public enterprises signed an agreement with their respective labour associations a deal to implement Industrial Development Strategy (IDS) on Thursday, June 19, 2014.

During a bilateral talk between Ethiopia and Djibouti on Thursday, June 19, 2014, representatives of the countries have announced they are committed boost their bilateral relations. The bilateral relation is said to enhance the socio- economic benefits the peoples of both countries will get.

Ethiopia’s Trade Competition and Consumer Protection Authority announced it is going to launch a market information system for international industrial products.

Ethiopia and Israel agreed to further strengthen their ties through economic, social and security cooperation.

Mexico’s Ambassador to Ethiopia, Alfredo Miranda, announced his county’s foreign minister, Jose Antonio Meade Kuribrena, will come to Ethiopia leading a high level business delegation team on October 2014. The business delegations are said to be from textile and agriculture sectors.

Ethiopia’s Ministry of Trade announced the nation’s export products are on the increase.

According to the Ministry the variety of products the nation sent abroad in the past 10 months has reached 30 and the revenue U.S $ 2.6 Billion. The total revenue shows an increase of U.S $ 120 Million when compared to last year’s same period.

Amakele Yemam, Public Relations and Communications Head at the Ministry, appreciated the increase in the destination of the export products as well as the types and amount of the products. Elaborating this he said, currently Ethiopia exports 15 types of agricultural products, 10 industrial and five mineral and other products.

Amakele further noted efforts being made to export value added products instead of raw materials is encouraging especially in the textile and leather sectors.

Major destinations of Ethiopian products during the 10 months of the current fiscal year are Somalia, China, Germany, the Netherlands and Saudi Arabia.

Source: Ethiopian News Agency