UK pledges to increase dev’t aid to 200 mln Euros.

Ethiopia and United Kingdom (UK) have finalized to ink the Memorandum of Understanding (MoU) to scale up the diplomatic ties to strategic partnership level, said Ethiopian Ambassador to UK.

In an exclusive interview with The Ethiopian Herald, Ethiopian Ambassador to the UK Teferi Melesse said that the activities are ongoing to elevate the diplomatic ties between the two parties. The bilateral relations between the two sides are in a good position. The preparations have been finalized to sign the MoU to scaling up the diplomatic ties with UK to a strategic partnership.

“We agreed with UK government to scaling up the existing relation into strategic partnership by communicating with country’s Foreign Ministry and parliament. The two countries’ cooperation and relation have been strengthening from time to time.”

The signing of the MoU would help to further strengthen the strategic cooperation between the two countries in education, health, manufacturing,  agro-processing, investment, trade, people to people ties and other sectors. Furthermore, it would contribute to further widen diplomatic ties evaluating gaps, he said.

Ambassador mentioned that UK didn’t impose sanctions following the Northern Ethiopia conflict.

The UK government recently launched zero-tariff and tax opportunity for Ethiopia and other countries. “We hope to exploit UK’s growing market for export since Ethiopia has been working aggressively on agriculture, manufacturing and agro-processing,” he added.

As to him, the UK government pledged to increase its development aid from 80 million Euro to 200 million in 2024. This all are indicators of scaling up of bilateral ties of the two countries. The UK investment in Ethiopia accounts 20% of foreign investment when compared to other countries. The UK investors are showing an interest to invest in mining, energy, pharmaceutical and manufacturing sector.

Hence, the UK banks are conducting a study to join Ethiopia’s financial sectors when it opened. Moreover, experienced contractors in the sector are showing their keen interest to be part of the construction of the Ethiopian airlines planned to build a new airport, Ambassador stated.