Addis Ababa — The central banks of Somaliland and Ethiopia on saturday held talks in Addis Ababa aimed at strengthening financial and economic cooperation, including cross-border trade and banking ties, officials said.

Somaliland's central bank governor, Abdinasir Ahmed Hersi, and Ethiopia's central bank chief, Mamo E. Mihretu, met at the National Bank of Ethiopia headquarters to discuss collaboration on payments and settlement systems, foreign exchange and trade financing, anti-money laundering measures, FinTech licensing and forex operations.

The two sides agreed to set up a joint technical working group to follow up on the initiatives.

Governor Hersi underscored the importance of Somaliland's Berbera Port and trade corridor for Ethiopia's regional commerce, urging swift progress on banking and insurance protocols to accelerate port-use agreements. Governor Mihretu welcomed the initiative, committing to raise the matter with Ethiopia's Ministry of Foreign Affairs.

The meeting also discussed strengthening financial flows, khat trade across the border, and the potential opening of a branch of Ethiopia's state-owned Commercial Bank in Somaliland.

Both governors pledged to deepen cooperation to bolster economic growth and regional stability.