Ethiopia, Algeria Etablish Business Council

ADDIS ABABA- Ethiopian Chamber of Commerce and Sectoral Association and the Algerian Chamber of Commerce and Industry have signed today an Memorandum of Understanding that establishes Ethiopia-Algeria Business Council.

The establishment of the Business Council is expected to enhance comprehensive economic ties between the two African countries, according to Ethiopian Foreign Ministry

The Minister of Trade of Algeria, the Ambassador of Ethiopia to Algeria, the Director General of the Chamber of Commerce and Industry of Algeria, the Secretary General of the Chamber of Commerce and Sectoral association of Ethiopia, the Representative of Deputy Director for Africa of the Ministry of Foreign Affairs of Algeria, and representative of the Embassy Algeria in Addis Ababa have attended the signing program.



Speaking during a meeting held virtually, Algerian Minister of Trade, Kemal Razig, underlined the need to translate the existing strong diplomatic relations between the two countries into a stronger cooperation in the areas of trade and investment.

The Minister also commended the incredible efforts discharged by the Embassies of the the two countries in Algiers and Addis Ababa in bringing their business communities closer together.

Nebiat Getachew, Ambassador of Ethiopia to Algeria, on his part. appreciated the two countries’ chambers of commerce and industry for their strong initiative to sign the MOU agreement and taking the process of enhancing cooperation in the field of business.

Last week, Algerian Foreign Minister, Ramtane Lamamra, visited to Ethiopia.

Strengthening trade and investment relations between the two countries was one of the issues given due emphasis during his discussion with higher Ethiopian officials in Addis Ababa, said Lina Ahmimi, Algerian Foreign Ministry Director for African Affairs.

She also mentioned readiness of the Ministry of Foreign Affairs of Algeria to support business initiatives from both sides.

After signing the MoU, the Director General of the Chamber of Commerce Madame Bahloul Wahiba, proposed to exchange the copy of the signed agreement and the list of the contacts of the businessmen from both countries who are interested in each other’s markets, through diplomatic channels.

The two parties also agreed to hold in person sideline meeting in the coming October, at the Dubai International Expo, where both will be participating.

The agreement to establish a business council to strengthen the relationship between the two countries’ business community was reached during the Ethio-Algeria virtual Trade Promotion event hosted by the Embassy of Ethiopia in Algiers in January 2021.

 

Featured Image: Ethiopia’s Ambassador to Algeria Nebiat holding a discussion with Kamel Rezig, Minister of Trade of Algeria, in December 2020. [Photo File]

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