ADDIS ABABA- Border trade guide that facilitates the exchange of goods between Ethiopia and Eritrea is being drafted, said Ministry of Trade and Industry.
A committee comprised from the Ministry, Ministry of Foreign Affairs in collaboration with government structures in Eritrea has been undertaking the preparation; Ministry Public Relations and Communication Affairs Office Head Wondimu Filate told The Ethiopian Herald. The Ministry as well has carried out assessment on the potential market which traders of both sides could seize in each other’s countries.
“The finding of the assessment will be important to enrich the border trade guide.” To him, the law will enable the two country’s trade relations to thrive until the coming into effect of African Continental Free Trade Area (CFTA) agreement which Ethiopia signed. With the implementation of the CFTA, goods and services will be exchanged without tax, tariff and quota, he added. He explained that the importexport of goods between the two countries can be decided by a trade agreement between the two countries.
Further the two countries are expected to enter agreements to decide on the use of preferable currency. “It is clear that both countries will decide acceptable currency that better expedite their trade relations.”Now, the two countries are members of Common Market for Eastern and Southern Africa (COMESA) and this trade law governs both countries, he noted. Formal agreements between the two sisterly countries helps to ensure durable peace, according to him.
The Ethiopian Herald, November 30/2018
BY ABDUREZAK MOHAMMED
