Ethiopia, UK ink MoU to cement cooperation in trade, investment

Addis Ababa, June 20, 2023 (FBC) – Ethiopia and the UK have signed a memorandum of understanding to strengthen their partnership in trade and investment.

The MoU was signed by Ethiopia’s Minister of Trade and Regional Intergration, Gebremeskel Chala, and UK’s Minister for International Trade, Nigel Huddleston, according to the Ministry of Trade & Regional Integration of Ethiopia (MoTRI).

During the MoU signing ceremony, Gebremeskel said that the agreement mainly helps Ethiopia financially and technically in its comprehensive bid to become a member of the World Trade Organization (WTO).

He mentioned that Ethiopia has come a long way to become a member of the International Trade Organization, underscoring the importance of being competitive through increasing international investment.

UK’s Minister for International Trade Nigel Huddleston, on his part, recalled that his country enjoyed a long-standing historical relationship with Ethiopia.

Nigel Huddleston said that the UK is ready to provide appropriate support to Ethiopia to increase its involvement in the World Trade Organization.

He also confirmed that his country will provide the necessary support focusing on enabling Ethiopia benefit from the economic diplomacy and improving the trade balance.