Chamber, Ethio Promotions team-up for Trade Fair in DC

Dec 12 , 2020


The Ethiopian Chamber of Commerce & Sectoral Association has partnered with Ethio Promotions LLC to host a trade fair in Washington, D.C. next year. The two parties signed a memorandum of understanding (MoU) earlier last week. The agreement was signed between Yesuf Ademnur, Secretary-General of the Chamber, and Abebe Feleke, director of Ethio Promotions. The two parties have agreed to jointly organise and host the Ethio-American Trade Fair at the Gaylord National Resort & Convention Centre near Washington, D.C., in June 2021 to facilitate trade between the two countries. The fair aims to promote Ethiopian goods and services in the American market; create awareness in American business communities regarding investment opportunities in Ethiopia, and to enable Ethiopian businesses to take full advantage of the Africa Growth & Opportunity Act, according to the organisers. The Act allows eligible Sub-Saharan African countries duty-free access to the United States market.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email