Ethiopia and United Arab Emirates (UAE) signed Memorandum of Understating (MoU) for political consultation as the second Joint Ministerial Commission forum was held yesterday.
The two sides were represented by Ethiopian Minister of Foreign Affairs Dr. Workneh Gebeyehu and Minister of Foreign Affairs and International Cooperation of the United Arab Emirates Sheikh Abdullah bin Zayed bin Sultan Al Nahyan who is in official state visit to Ethiopia.
The two countries also agreed to expand investment, people to people and diplomatic ties.
The relation of the two countries dates back to the ancient times cemented by the people to people cooperation said Dr. Workneh adding that the cooperation also grew into commercial and cultural spheres.
According to Dr. Workneh while the both countries remain desirous to further enhance their bilateral relations, their trade volume has reached 500 million USD with UAE investors running 105 worth nearly 11 billion Birr in Ethiopia.
The joint commission will take the cooperation in to new heights and Ethiopia offers remarkable opportunities for UAE investors with so much incentives in the package.
The countries should redouble their engagement to promote trade investment in various spheres. They should continue to work closely to fight emerging security threats such as terrorism and extremism.
Ethiopia also urged Middle east countries to find diplomatic means to solve the gulf crisis. Sheikh Abdullah bin Zayed for his part said there is trust and cooperation between the two countries. UAE investors are ready to further invest in Ethiopia. The bilateral ties is gaining momentum and UAE is keen to expand collaboration in different arenas .
It was learnt that the two countries have finalized preparation to sign oversees employment agreement to ensure protection for Ethiopian employees.
Meanwhile, President Dr. Mulatu Teshome conferred with Sheikh Abdullah on ways of strengthening the cooperation on trade and investment.Dr. Mulatu . It was also noted that UAE is Ethiopia's strategic economic partner in the Middle East. The two countries also agreed to upgrade the bilateral tie in agriculture, pharmaceuticals and other investment sectors.
The bilateral tie between Ethiopia and UAE dates back to 1973.
Herald staff, Yohanese Jemaneh also contributed to the story.