ADDIS ABABA, Dec 31 (NNN-ENA) — Ethiopian Prime Minister Meles Zenawi says relations between Ethiopia have turned into friendly co-operation from distrust arising from disputes over the resources of the Nile Basin, which is shared by the two countries.
Speaking during the signing here Wednesday of a memorandum of understanding (MoU) which would enable an Ethiopia-Egypt Council of Commerce to be set up, Meles said the two countries were now able to develop the Nile Basin jointly through the Nile Basin Initiative.

This has enabled them to turn Nile Basin into a trade and investment zone.

Egyptian Prime Minister Dr. Ahmed Nazif said the two nations had reached consensus to work together and become prosperous and set an example for Africa.

He said the Egyptian government would do everything possible to further enhance the trade and investment ties between the two countries.

Trade Relations and Negotiations Directorate Director Geremew Ayale said the trade volume between Ethiopia and Egypt had been growing by 20 per cent per annum.

More than 150 members of the business communities of the two countries had discussed ways of enhancing trade and investment between Ethiopia and Egypt. — NNN-ENA