Ethiopia,Eritrea could trade in local currencies

For well over a year following normalization of relations, Ethiopia and Eritrea have been working on documents for a range of agreements.

Ethiopia _ Eritrea _ trade
Photo credit : Eritrean Press

borkena
February 4, 2020

Trade relations between the two countries were among the significant issues that relevant authorities have been working on after the end of hostility as Ethiopia initiated rapprochement in 2018.

According to news published by the Ethiopian Press Agency (EPA), which cited the Ethiopian Ministry of Trade and Industry as a source, the work is now completed. It is pending a decision from senior authorities of both countries.

Wondimu Filate is a Communication Affairs Director in the Ministry of Trade and Industry of Ethiopia. He told the Ethiopian Herald that “the ministry has sent a complete Ethio-Eritrea border trade legal framework to the Ministry of Foreign Affairs (MoFA) in a bid to strike a trade deal soon having secured approval from both countries.”

While preparing a legal framework for the border trade between Eritrea and Ethiopia, the Ministry of Trade and Industry of Ethiopia has researched the areas of bilateral trade schemes to determine market interest and gap.

Mr. Wondimu said: “The cross border trade between Ethiopia and Eritrea will occur within a radius of 10 km from their shared borders.”

He added that the Ministry of Trade and Industry of Ethiopia has “identified preferable commodities and transaction currency of traders in the area.”

When the two nations sign the trade agreement, the currency issue could be determined. 

Wondimu also said that the transaction currency could be Ethiopian Birr, Eritrean Nakfa, or US Dollar.

The report by Ethiopian Press Agency also indicated that open trades have been going on between Eritreans and Ethiopians along the border area. “…formalizing of such trade will build a booming business between the two sisterly countries,” according to Communication Affairs Director of MoTI



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8 Responses to "Ethiopia,Eritrea could trade in local currencies"

  1. Salah   February 5, 2020 at 12:37 am

    Mengistu Hailemariam Derg Ethiopian Workers Party (EWP) built a big building with a huge compound at a key location by Arat Kilo In Addis Ababa , Ethiopia in the 1980s to facilitate the isepa/EWP party activities .

    In 1991 when Shabiya and TPLF invaded Addis Ababa they took over this building making it the property of EPRDF Shabiya by chasing the previous owners ISEPA (EWP) out . Then in 1998 Shabiya was chased out by EPRDF.

    Isepa (EWP) was not even able to be part of the transitional government which EPRDF was orchestrating ,since Isepa EWP’s leaders were imprisoned with their building remaining forcefully illegally occupied by EPRDF until this day, many politicians who work there at this building also live there from season to season making it their camp rather than just their workplace, especially when they are in the city from rural far areas they camp there pocketing per diems hotel expenses .

    Also many of the corruption , intimidation and rehearsal of the following days theatre is known to be done at this building by EPRDF members at night .

    Those who regularly spend the night there are all YES MAN Sayers who do everything the PM says , no questions asked.

    Now since EPRDF is sharing their wealth maybe this building will be sold to private investors and the cash gotten from the sales divided between EPRDF member parties, since either the tax payers and their advocates that paid for this buildings construction or since EWP Isepa Mengistu Hailemariam are not claiming this public property building’s ownership or Prosperity Party might claim this building by forfeiting other businesses for TPLF in return .

    Reply
    • wedi   February 5, 2020 at 9:32 pm

      Right, it is time for your medication, I feel you are deranged and dangerous person to be on the internet.

      Reply
  2. Telaqi   February 5, 2020 at 3:16 am

    This idea was first brought forward by the hero Journalist Demis Belete, but he was murdered and the idea was being kept legally since it was believed his idea had connection with the motive of his murder, if Journalist Demis Belete continued his work the Nobel Peace Prize would have went to Journalist Demis Belete rather than PM Abiy Ahmed.

    Reply
  3. Seyiffu   February 5, 2020 at 4:43 pm

    000000000000000000000000000000000+000000000000000000000000=OOOOOOOOO
    000000000000000000000000000000000-000000000000000000000000=OOOOOOOOOO
    000000000000000000000000000000000%00000000000000000000000=OOOOOOOOOO

    THE WOYANNE MEKELE TIGRAY PEOPLES Bizu bizu Nagarri La Eritrians biserrami No development

    Reply
  4. Seyiffu   February 5, 2020 at 4:48 pm

    The Eritreans people and The Mekele Tigray people for 29 Years No DEVELOPMENT NONE. OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO ALL ERITREANS PEOPLE REFUGEES

    Reply
  5. rezen   February 5, 2020 at 7:00 pm

    QUOTE: “Mr. Wondimu said: “The cross border trade between Ethiopia and Eritrea will occur within a radius of 10 km from their shared borders.” UNQUOTE

    Commentary, 5 Feb 2020
    No doubt, the radius will be elongated to 20 km and then to 30km and then …….
    And eventually to no border at all — as the saying goes, back to square ONE.
    And who will be responsible for the Loss Life of one million or two millions or three millions of DEAR PRECIOUS LIVES of AFRICAN RACE ? Or, do WE really care? Or, does the WORLD(1) REALLY CARE if Africans massacred themselves to oblivion? For sure, the Good Lord up in Heaven, in his/her comfort, wouldn’t spend his/her precious time on BLACK Africans who do not care about themselves.

    Dear Editor: If I have gone too far, it is your prerogative to delete it. And I will not have the slightest grudge. On the contrary, in all sincerity, I am grateful to https://www.borkena.com for the opportunity to express my views freely for a long time.THE END
    —————————————————

    Footnote:
    (1) Especially, the advanced Nations who are eager to have an EMPTY Africa but intact with its precious and rare resources and vast land for their of population to have earthly paradise.

    Reply
  6. Ijibi Abebe   February 5, 2020 at 10:52 pm

    Congratulations for Eritreas!!!!
    Got their independence, with two ports, they have their own country but they have no problem to live in Ethiopia. They get the best of both countries and now they can use their own currency(nakfa) to shop in Ethiopia !!!. Its getting better and better for Eritreans.

    Reply
  7. kassa gebremariam   February 7, 2020 at 1:56 am

    Mr salah trade relation has not any relation ship with one building , but this type of border trade policy is international agreement between two border countries ! Having this in mind , so come up with neutral mind to discuss !

    Reply

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