Ethiopia is a major economic partner of Egypt.

Ethiopian news, May 14, 2011
Ethiopia, Egypt sign MoU. It hosts Egyptian investments of over 400 projects worth over one billion US Dollars. 

It is against this background that business communities of two countries conferred in Addis Ababa on Friday.

The two sides discussed investment opportunities and challenges, as well as areas of business cooperation.

They discussions boiled down to signing Memoranda of Understanding to establish a joint business council.

The two sides also agreed to beef up business and economic cooperation

The Ethiopia and Egypt Chambers of Commerce signed a Memorandum of Understanding to do business together and enhance economic cooperation between the two countries.

Chambers of Commerce of Addis Ababa and Alexandria also signed MoU to collaborate in businesses.

Eyesuswork Zafu, President of Ethiopian Chamber of Commerce and Sectoral Associations said, "The Peoples of Ethiopia and Egypt are seizing the moment to jointly develop their economies".

"The agreements will open new chapter of doing business between the two countries," said Ahmed El-Wakil, President of Egyptian Federation of Chambers of Commerce.

Hailemariam Desalegn Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia is of the opinion that the historic foundation for cooperation on mutual benefits of both Egypt and Ethiopia have already been laid.

Egypt's Prime Minister Dr. Essam Sharaf is on the same page with the Ethiopian Foreign Minister.

A new chapter of cooperation that can ensure mutual benefits has been opened, he said; there is a win-win solution for the mutual benefits of the two countries.

The Prime Minister invited Ethiopian Premier, Meles Zenawi to pay a working visit to Cairo and workout on remaining issues.

Mean while, the Egyptian Prime Minister, Essam Sharaf concluded his visit to Ethiopia and left for Egypt later Friday.

Senior Ethiopian government officials including Minister of Labor and Social Affairs, Abdulfetah Mohammed saw off Mr. Sharaf upon departure at the Addis Ababa Bole international Airport.

Ethiopian gov. news