2merkato

Ethiopia and the Netherlands signed a bilateral trade agreement to avoid double taxation to develop the trade system between the two countries, enhance investment activities as well as allowing transfer of technology between the two countries.

The trade accord was signed between Alemayehu Gujo, State Minister of Finance and Economic Development and Hans Blankenberg, Ambassador from the Netherlands.

The agreement would play a notable role in supporting investment activities between the two countries through establishing fair taxation said Alemayheu at the signing. The agreement will enable the exchange of goods and services and facilitate the flow of capital eliminating double taxation enacted on companies and individuals he added.

The government of Ethiopia and the World Bank (WB) Thursday signed a US$110 million loan agreement to support the third phase of the Pastoral Community Development Project, The Ethiopian Herald reported.

At the 42^nd session of the (ICAO) in Montreal, Canada, Ethiopia and the United Arab Emirates (UAE) reached a mutual understanding to upgrade their existing air transport services.

Ethiopia and Vietnam have signed a Memorandum of Understanding (MoU) to begin bilateral air transport, according to a statement the Ethiopian Civil Aviation Authority sent to Ethiopian News Agency. The MoU was signed following a two-day discussion held between officials of civil aviation authorities of the two countries in Hanoi from 11-12 July 2013.

Director-General of the Authority Col. Wossenyeleh Hunegnaw signed the MoU with his Vietnamese counterpart Vo Huy Cuong. Col. Wossenyeleh on the occasion said the MoU will significantly contribute to strengthen economic relation between the two countries.

Ethiopian and the World Bank Signed two loan agreements worth 1.15 billion US dollars to support the transport sector and the Promotion of Basic Services Phase III project.

The bank released the interest free credit totaling 1.15 billion US dollars on the basis of the Country Partnership Strategy which the bank approved recently.

The loan is particular targeted towards enhancing the access of services to poor people and to enhance the infrastructural development plans noted the statement.