Parliament approved the bill unanimously, without asking questions or comments after this decision on the practical implications of national policies that could hinder the operational effectiveness of the SSA, and both sides firmly believe that it will contribute to improving trade and investment between the two East African countries. At the Kenya-Ethiopia Business Forum, KAM Vice President Ms. Flora Mutahi said trade between the two countries has increased, resulting in more business opportunities to explore. “Total trade between Kenya and Ethiopia increased from Ksh 2.2 billion in 2004 to about KSH 7.4 billion in 2014. We recognize the interest of the two governments in working more closely together and strengthening our economic and trade relations,” Mutahi added. After Kenya`s independence, a joint inter-ministerial advisory committee examined the border between the two countries. A corresponding contract was signed in 1970. [1] The establishment of reciprocal trading systems such as warehouses and inland container depots (INNs) to simplify the customs process was also included in the draft law. In addition to establishing a Joint Private Investment Council (JPIC) that brings together members of governments and the private sector, the agreement will also allow companies to avoid the problem of double taxation. Official relations between Ethiopia and Kenya date back to 1954, when Ethiopia established an Honorary Consulate General in Kenya. Ethiopia appointed its first ambassador to Kenya in 1961 and six years later Kenya opened an embassy in Addis Ababa. “Ethiopia is trying to benefit from sectors such as trade, infrastructure and energy,” Ahmed Abagissa, vice-chair of the committee, told MPs. “The agreement will help Ethiopian investors access trade, investment and tourism in Kenya.” In 1954, Ethiopia established an Honorary Consulate General in Kenya, which officially established links between ethiopia and the colonial administration.

[1] The agreement allows the free movement of commercial vehicles, goods in transit and axle loads between the two countries. The establishment of one-stop border posts also aims to facilitate the smooth movement of goods and services across the Kenyan ethnic border. The deal had already been approved by the Kenyan parliament earlier this year. Kenyan investors believe they could now have privileged access to sectors that have long been closed to foreigners. Kam Vice-President, Ms. Flora Mutahi “The business community in Kenya is pleased to see the strong interest and support of the Ethiopian business community in the realization of the Special Status Agreement. This offers enormous opportunities that can be seized to accelerate the industrial revolution between the two countries and create prosperity and employment opportunities for our people. Kenya and Ethiopia are among the leading countries in Africa in terms of economic growth rates. While Kenya`s economy has reached middle-income status and is currently growing at 5.6%, Ethiopia`s economy grew by 11% in 2015. The Special Status Agreement (SSA) signed in November 2012 between former Ethiopian Prime Minister Meles Zenawi and his Kenyan counterpart Mwai Kibaki was finally approved on Tuesday, April 8, 2014, when the Ethiopian Parliament celebrated its 22nd anniversary.

Regular meeting of its fourth year. The agreement, which aims to prioritize trade and investment zones that have remained underdeveloped between the two countries, also includes the establishment of trading systems such as warehouses and inland container depots (INNs) in the customs territories of the two countries on a reciprocal basis. The Standing Committee on Legal Affairs and Administration — one of 16 in parliament to which the deal was referred for further consideration during Tuesday`s session — will hold talks next week, Fortune has learned. Senior experts in foreign trade law from the Ministry of Foreign Affairs (MoFA), including Retta Alemu, Head of Legal Affairs at the Ministry, are invited to explain the content of the agreement and answer questions to members of the Standing Committee. “The agreement will allow Kenyan companies to access the Ethiopian market and increase the volume of trade between the two states,” said Muwangi, the ambassador. The agreement was reached by Parliament at the same time as the four-day official visit of a delegation of senior government officials and businessmen from neighbouring Kenya, led by President Uhuru Kenyatta. The agreement will also facilitate the issuance of work permits and allow both countries to participate in the joint promotion and marketing of tourism activities, including the free movement of tourist vehicles to tourist sites. Kenya and Ethiopia agreed to accelerate the implementation of the special status agreement between the two countries, which is expected to have economic and security benefits for their citizens. Ethiopia and Kenya will also sign and implement an agreement to avoid double taxation.

The creation of a Joint Private Investment Board (JPIC) with members of governments and the private sector is part of the agreement. .