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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

Ezana Mining Development plc is to build a 17.8 million US dollar gold plant in Tigray Region of Ethiopia. The new mine is expected to contribute to increasing the national revenue from the export of minerals. The mining development awarded the turnkey contract for the project Manhattan Corporation.

The South African mining services provider will build a carbon-in-leach (CIL) gold plant in Northern Tigray. Ezana selected the contractor from four international companies who had responded to the tender it put out. According to the agreement signed between Ezana and the contractor its tasks will include design engineering, procurement, shipment, construction, installation, implementation and after-sales skills development. Add a comment Add a comment

Ethiopia is to launch a new project in Adi Gala, which will enable it to export potable water to Djibouti. An agreement was signed to facilitate the export between Sufian Ahmed, Ethiopian Minister of Finance and Economic Development and Ilyas Moussa Dawaleh, Minister of Finance of Djibouti.

The project will be fully financed by the government of Djibouti according to the agreement signed between the two countries.

The deal outlines the implementation of the project according to which the construction of a pipeline to carry the water will be handled by Djibouti. It is expected that the construction of the project which will supply 100 thousand meter cubes of water every day will take a year and a half to complete. Add a comment Add a comment

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

Ethiopia is to build a 250 kilometer high way connecting between Dire Dawa and Dewale it was announced. The road project, currently in the design stage is expected to upgrade the current gravel road to asphalt creating another alternative access to a sea port.

The road is particularly important in light of the fact the Ethiopia handles 98 percent of its export and import freight through Port Djibouti. It is also expected that a new port intended to be constructed in Tadjoura will increase the congestion at this port thus facilitating the trade though Djibouti. Add a comment Add a comment

The Development Bank of Ethiopia has pulled out of a 1.52 Billion Birr Loan agreement made with Habesha Cement according to sources.

The bank had approved the loan which was expected to cover more than 70 percent of the funding of the proposed cement factory more than a year ago.

The bank pulled out of the argument it had endorsed in September 2011 on the basis of its inability to disburse money at this time. Add a comment Add a comment

Ethiopia secured more than 57 million Birr in revenue from the export of leather and leather products in the last two quarters according to the Leather Industry Development Institute.

The revenue was secured from the export of various value-added products including clothes, footwear, and leather gloves as well as finished leather and other leather articles said Berhanu Serjebo, Director of Corporate Communication of the Institute.

The institute had targeted to obtain at least 109.2 million Birr from the export of leather products over this period according to Berhanu. Add a comment Add a comment

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

The Chinese China Road and Bridge Corporation is likely to win the 2.6 billion birr project to construct an interchange roundabout system in Addis Ababa to complement the Light Railway Transit.

The Addis Ababa City Roads Authority announced a budget of 2.6 billion birr to construct interchanges and roundabouts as  a part of the Light Railway Transit being launched in the Ethiopian capital. The budget for the roads development is expected to be covered by the federal government and the city administration according to sources.

The roads authority will select a contractor for the construction of the interchanges and roundabouts once it confirms funding it was noted at the time. Add a comment Add a comment

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