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Ethiopian Ministry of Revenue Preparing Trade Rules with Eritrea

The opening of the Serha-Zalambessa border crossing between Eritrea and Ethiopia

Ethiopian Ministry of Revenue Preparing Trade Rules with Eritrea

By Ezega

The Ethiopian Ministry of Revenue is Preparing trade rules with Eritrea, according to ENA report. A legal framework is being prepared that regulates the import-export trade between Ethiopia and Eritrea, according to Ethiopian Ministry of Revenue.

Ethiopia and Eritrea started normalization relations since Ethiopian Prime Minister Abiy Ahmed visited the Eritrean capital on July 8, 2018.

Since then, the Eritrean President Isaias Afewerki has visted Ethiopia twice. The two countries has since signed peace agreements and exchanged diplomatic posts.

Following the cessation of hostilities, the border between the two countries was opened on Ethiopian new year, September 11, 2018.

Eritrea has also been renovating Massawa and Assab port infrastructures for use by Ethiopia for import and export.

Ethiopian Revenues Minister Adanech Abeebe told ENA that the legal framework will include tax system similar to those with other countries.

Restrictions have been imposed on fuel and other commodities sent to Eritrea, according to communique from the revenues ministry.

Currently, there is also restriction on the cross-border trade times. Trade and Industry State Minister Mebrahtu Meles said interim restrictions on timing of daily trades put in place will remain in effect until a system is established.

Committee drawn from the federal government and Tigray regional government has compiled the necessary information on current economic transactions taking place at the border areas.

Daily transaction in the border areas of the two countries has accordingly been arranged to take place between 6 A.M in the morning and 6 P.M in the afternoon.

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Ethiopian Ministry of Revenue Preparing Trade Rules with Eritrea Reviewed by Admin on 12:00 AM Rating: 5

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