ADDIS ABABA – Ethiopia and Somalia have come to agreement to start negotiations on bilateral trade pact.
The agreement was reached during a meeting between State Minister of Trade and Regional Integration Denge Boru and Minister of Commerce & Industry of Somalia Khalif Abdi Omar on Wednesday.
“The two ministries have discussed and reached in consensus to negotiate and then sign a bilateral trade agreement,” said Ethiopia’s trade Ministry.
The deal, it said, will complement other regional integration efforts including COMESA and African Continental Free Trade Area (AfCFTA).
Both Ministers have also agreed to establish a joint trade committee that will facilitate conditions to further strengthening the two countries trade relation and increasing trade volume.
The ministers pointed out the prioritized activities that promote the linkage between the business societies and encourage trade exchanges of the two countries, the Trade ministry said.
Accordingly, the ministers agreed to facilitate organizing business forums, expert exchanges and experience sharing programs.
Both officials expressed their commitment to a successful outcome that makes workers, farmers, and business People in both countries more prosperous, according to the ministry.