Date: Saturday, 03 November 2018
Addis Ababa November 03/2018 A legal framework that regulates the import and export trade between Ethiopia and Eritrea is under preparation, according to Ministry of Revenues.
Restrictions are imposed on fuel and other commodities sent to Eritrea, it added.
Following the cessation of hostilities that followed the peace accord entered between the two countries, the border is open and people-to-people relations have been conducted.
Ministry of Revenues is at present preparing legal framework that regulates import and export between the countries.
Revenues Minister Adanech Abeebe told ENA that the legal framework will include tax system similar to those of other countries.
Trade and Industry State Minister Mebrahtu Meles said interim restrictions on timing of daily trade transactions and specific commodities put in place will remain in effect until a system is established.
A committee drawn from the federal government and Tigray Regional State has already completed compiling the necessary information to clearly indicate the objective nature of the economic transaction in 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.
Governments of the two countries are also carrying out various activities to make use of the Eritrean ports of Massawa and Assab.Legal Framework for Import, Export between Ethiopia and Eritrea under Preparation | Ethiopian News Agency