2merkato

The Ethiopian House of Representatives ratified double taxation and fiscal evasion agreements with the governments of the Seychelles and the United Kingdom.

The agreement with the United Kingdom was signed in June of 2011 during the UK-Ethiopia Investment Forum, Taxes included in the agreement include Ethiopian income and profit taxes and taxes on income from activities in the agriculture, mining and petroleum sectors as well as UK income, corporation and capital gain taxes.

The strong bilateral relationship between the two countries means that the approval by the Ethiopian Parliament is welcomed by the UK said Greg Dorey, British Ambassador to Ethiopia.

The Ethiopian Parliament (the House of People’s Representatives) is working on draft laws for the privatization of public enterprises, investment proclamation, and excise tax proclamation. The House has referred the draft laws to the relevant standing committees for further study.

Ethiopian Airlines announced that it has partnered with CarTrawler, the leading provider of online car rental distribution systems, launching car hire and transfer services for its passengers globally. The partnership enables Ethiopian to offer seamless transport service to passengers throughout their journeys, it said in a statement sent to 2merkato.com.

Ethiopian Airlines, the largest aviation group in Africa, announced that it has finalized preparations for the launch of Zambia’s National Carrier in a joint venture with Industrial Development Corporation Limited (IDC). Ethiopian has 45 percent stake in the joint venture while Industrial Development Corporation Limited (IDC) retains 55 percent.

Pea exports from Ethiopia have shown significant increases with more than 162 tons of fresh peas worth an estimated 500 thousand Euros exported in the just concluded financial year.

Snow peas and sugar snap are the major varieties being exported to South Africa and Europe with seven farms growing and exporting peas in the 2011-12 financial year.

There were only three farms and peas were not a major vegetable export in the previous budget year said Yelak Negash, General Manager of Akirma Agro Service plc.