ADDIS ABABA – A high-level delegation led by Abdoulkarim Aden Cher, the Minister of Budget of Djibouti, is in Ethiopia for a three-day visit to discuss and advance strategic bilateral interests, said Ethiopian Finance Ministry on Tuesday.
Members of the delegation held their first discussion with Finance Minister Ahmed Shide on ways today to further enhance the overall relationship between the two nations.
During the discussion, Finance Minister Ahmed said the two East African nations have strong historical bonds sharing common culture, social values, and languages that serve as bases for more enhanced economic cooperation.
Ahmed also explained the economic cooperation between the two has been growing to incorporate different sectors including the advancement of key infrastructures networks in transport, telecommunications, electric power, and potable water among others.
The Finance Minister also affirmed the commitment of the Government of Ethiopia for the advancement of the economic relationship between the two countries.
“In this aspect, he encouraged the finalization of the agreement on the avoidance of double taxation to encourage trade and investments between the two brotherly countries sighting examples of Ethiopian companies such as the National Oil Company (NOC) which have invested in petroleum stations and the petroleum depot in Djibouti,” said Ministry of Finance in a statement.
Ahmed also expressed his firm belief that this visit will be used to review achievements and renew friendship between the two countries as well as to chart the future so as to bring the relationship to a new high.
Djibouti’s Budget minister Abdoulkarim, on his part, explained the how Ethiopia and Djibouti have strategic comprehensive partnership which have multiple pioneering areas of cooperation.
This partnership has constantly enriched the content of bilateral relations and sever as model for other countries in the region, he said.
The two countries have shown great interest and continue to work for advanced regional economic integration in the Horn of Africa.
Djibouti’s economy and 85% of its gross domestic product rely on the service sector, which includes port, logistics and related services. Ethiopia, its main customer and landlocked nation, uses Djibouti’s ports and transport-related infrastructure for 95% of its imports and exports trade and is contributing substantially to Djibouti’s overall economic growth.
Apart from the growing economic ties, the East African countries recently agreed to work together on several fields including to scale up their military cooperation for peace in the region.
Featured Image: the two officials held their meetings at the headquarters of the Ministry of health on Tuesday [Photo MoF]