Ethiopia, Eritrea to establish joint special economic zones

Posted on Sep 19 2018 - 8:40pm by Editor

NEW BUSINESS ETHIOPIA

18 September 2018

Ethiopia, Eritrea to establish joint special economic zones

As part of advancing regional economic integration, the leaders of Ethiopia and Eritrea signed an agreement to establish joint special economic zones.

“The two countries will develop Joint Investment Projects, including the establishment of Joint Special Economic Zones,” twitted Yemane G. Meskel, Eritrean Minister of Information.

The agreement is signed in Jeddah, Saudi Arabia, on Sunday by Eritrean President Isaias Afwerki of Eritrea and Prime Minister Abiy Ahmed of Ethiopia, according to Mr. Yemane. The signing of the agreement was attended by the UN Secretary General Antonio Guterres and King Salman of Saudi Arabia.

The agreement has followed the Joint Declaration on Peace and Friendship the two countries have signed on July 9, 2018 in Asmara. Labeled, ‘Agreement on Peace, Friendship and Comprehensive Cooperation between Ethiopia and Eritrea,’ the deal signed in Saudi involves comprehensive cooperation in the political, security, defense, economic, trade, investment, cultural and social fields on the basis of complementarity and synergy.

The two countries will implement the Eritrea-Ethiopia Boundary Commission decision, while combating terrorism, trafficking in people, arms and drugs in accordance with international covenants and conventions, according to the agreement.

Appreciating the peace deal between the two East African countries, King Salman bin Abdulaziz of Saudi Arabia has awarded President Isaias and Prime Minister Abiy Saudi Arabia’s highest medal.

The Red Sea
In a related development President Isaias has also talked with King Salman bin Abdulaziz of Saudi Arabia about enhancement of bilateral cooperation and vital issues of development and security of the Red Sea maritime route.

Djibouti – Eritrea
After several years of border conflict, the leaders of Djibouti and Eritrea have met in Saudi Arabia. In a meeting in Jeddah, President Isaias Afwerki of Eritrea and President Ismail Omar Guelleh of Djibouti agreed to open a new chapter of cooperation & good neighborliness between the two sisterly countries, according to Mr. Yemane.

 

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