UAE and Ethiopia sign agreement to protect and encourage investment

2/23/2016 7:38:24 AM

(MENAFN- Emirates News Agency (WAM))

ADDIS ABABA 23rd February 2016 (WAM) -- Ghazi Abdullah Salem Al Mehri the UAE Ambassador to the Republic of Ethiopia has participated in intensive negotiations held over three days in the Ethiopian capital Addis Ababa between a delegation from the UAE headed by Dr. Hamid Nasr Abdel Qader an economist expert at the Ministry of Finance and the Ethiopian side.

The negotiations culminated by the signing of a comprehensive agreement the first of its kind to protect and encourage investment between the United Arab Emirates and the Republic of Ethiopia.

The signing of the agreement represents economic development and a growth in the path of improving relations between the two friendly countries and constitutes the necessary legal framework for the protection of UAE investments in Ethiopia.

It is expected that the agreement will encourage and attract more UAE institutions and companies to engage in extensive and diverse investment in Ethiopia as it will provide significant incentives and privileges for foreign investment.

WAM/Hanaa/Moran

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.