Ethiopia and Egypt to cooperate on trade, investment

Prime Minister Hailemariam and President El-Sisi held discussions on the sidelines of the 24th AU Summit. On the occasion, President El-Sisi noted that Egypt recognizes Ethiopia’s sovereign right to utilize the Nile Waters. The two side’s discussions focused on ways to further promote the bilateral cooperation of the two countries. According to Ato Getachew Reda, Special Adviser to the Prime Minister, the two leaders held productive discussions in promoting trade, investment, education and other areas of cooperation between the two countries. Prime Minister Hailemariam underlined Ethiopia’s commitment to expand trade ties and learn from the experience of Egypt in promotion of trade and investment. According to Ato Getachew Reda, Prime Minister Hailemariam noted that Ethiopia understands Egypt’s interest in the utilization of the Nile Waters stressing that the development of Ethiopia is undertaking centers on the principle of mutual benefit and based on accepted norms of international water law. Ato Getachew also noted that President El-Sisi expressed his belief that Ethiopia’s development of the Nile Waters takes in to consideration of Egypt. The two sides also agreed on the need to work closely in correcting the wrong messages spread by some Egyptian politicians and journalists with regard to the utilization of the Nile Waters. The two leaders had met in Malabo and New York in 2014 and agreed on promoting dialogue to narrow differences with regard to the Grand Ethiopian Renaissance Dam which in turn resulted in the resumption of the tri-partite technical teams between Ethiopia, Sudan and Egypt.