May 27, 2014 (ADDIS ABABA) – A three-day bilateral trade forum between Ethiopia and Sudan concluded in the capital, Addis Ababa, on Tuesday with a memorandum of understanding between the Ethiopian Chamber of Commerce and the Sudanese Investors Federation.
The memorandum – signed by Ethiopian Chamber president Gebrehiwot Gebreegizabher and Sudanese Federation head Wagdi Meregagi – aims to further boost economic, trade and investment cooperation between the two neighbouring countries.
It is also hoped that the agreement will help the two sides establish joint ventures in different sectors that would serve the interests of the two countries.
“The MoU will have a positive contribution to the development of the industry sector, since Sudanese investors who inject money into the Ethiopian economy is expected to increase,” Ethiopian state minister of industry Mebrehatom Meles said.
Joint ventures between Sudanese and Ethiopian investors will also have an important role in exchanging knowledge, sharing experience and technology transfer, he added.
Sudan’s industry minister, Alsimeh Al Sadig, said his country is keen to further bolster economic and investment ties with Ethiopia and that the memorandum will contribute to the growth of the two countries’ industries.
During the opening ceremony, the Sudanese ambassador to Ethiopia, Abdelrahman Sirr Al-Ketim, said a number of Sudanese companies have decided to invest in Ethiopia.
Al-Ketim said the conducive investment climate created in Ethiopia is attracting several foreign investors, including Sudanese.