Ethiopia, the Sudan and Yemen to set up free trade area in 2004

ADDIS ABABA, Jan 01, 2004 (dpa) — A charter signed early this week by the leaders of Ethiopia, the Sudan and Yemen in Addis Ababa formalizing the Tripartite Sana’a Cooperation Forum was on an “all-round cooperation”, including the setting up of a free trade area, according to Ethiopian Foreign Minister Seyoum Mesfin.

In a statement published in the state press Thursday, he said: “The free trade area would be a step forward for the three countries and the interests of their respective people.”

Seyoum stated that the establishment of a “free trade area” would be among activities to be undertaken in 2004 in line with the decision of the Second Tripartite Sana’a Cooperation Forum that was held on 29 December in Addis Ababa.

He stated that Ethiopia and the Sudan have already started implementing “zero tariff” trade exchange after establishing a free trade area between them earlier in 2003.

“Yemen has now consented to come onboard, and the deal would enhance people-to-people relations of the three countries and would also provide greater value for the benefit of the people of Ethiopia, the Sudan and Yemen,” he said.

The Ethiopian Foreign Minister further stated that the three countries have also agreed to establish joint Business Council involving the private sector with the objective of enhancing trade exchange and promoting investment and joint ventures.

A trade exhibition for the duration of the tripartite summit was also held in Addis Ababa in which 32 businesses from the three countries displayed raw products and manufactured goods.

The businesses specialize in import-export trade were open to joint venture and investment opportunities in the three countries in these areas – petroleum, pharmaceuticals, cotton, textiles, oil seeds, coffee, shoes and leatherwear.