Archive for category: Uncategorized

African economy will continue to advance and gain momentum despite regional variation, African Economic Outlook 2019 revealed

African economy to advance, gain momentum despite variation

Addis Ababa, February 8, 2019 – African economy will continue to advance and gain momentum despite regional variation, African Economic Outlook 2019 revealed.

According to the report, Africa’s real Gross Domestic Product (GDP) growth is projected to accelerate to 4 in 2019 and 4.1 percent 2020 from 3.5 percent in
2018.

East African countries growth will project to 5.9 percent in 2019 and 6.1 percent in 2020 from 5.7 percent in 2018. Balanced macroeconomic stability and recovery in some commodity prices are among the economic progress drivers.

During launching the Economic Outlook, Finance Minister Ahmed Shide said “I am encouraged by the positive and strong economic outlook for the continent despite escalating global trade tension, debt vulnerabilities, and uncertainty in global commodity market prices.”

He added that it is important to undertake deep economic reforms and focusing on development financing consistent with prudent fiscal and monetary policies that preserve sustainable debt outlook.

Noting that job creation is lagging very much behind the rate of labor force growth on the continent, Ahmed pointed out “this stance, if not addressed adequately and on a time basis, will not only continue to depress the average income of our citizens but will also exclude our youth from economic activities.”

The Minister stressed that “inability to create sufficient job opportunities for the youth will also have detrimental effect on the future of the continent.”

Ethiopia has signed the African Congenital Free Trade Area (AfCFTA) and eased visa requirements to foster closer cooperation and regional integration.

AU Economic Affairs Commissioner, Professor Victor Harison, said “our common challenge is to support the trend to quickly return to a second decade of growth.”

The time for economic transformation and diversification is coming to Africa, he said, adding that “it will enable to generate value added, create productive jobs and support the implementation of the Continental Free Trade.”

Commissioner Harison assured “to meet the challenges in Africa, the African Union is striving to multiply initiatives on a continental scale.”

The report indicated that AfCTA in its initial phase will bring about 2.8 billion in real incomes and increase intra Africa trade by 15 percent, according to ENA.

It also recommends countries to eliminate applied bilateral tariffs and keep rules of origin simple flexible and transparent, remove all non-tariff barriers on goods and services on a most favored nation basis.

President Sahle-Work Zewde today held discussion with Republic of Guinea President, Alpha Conde, who is paying a three day official visit to Ethiopia

Ethiopia, Guinea Agree To Advance Ties to Strategic Level

Addis Ababa, February 7, 2019 – President Sahle-Work Zewde today held discussion with Republic of Guinea President, Alpha Conde, who is paying a three day official visit to Ethiopia.
In a joint press conference issued after the discussion, both Presidents said their discussion was mainly focused on ways to strengthen ties between the two countries.
The Ethiopian President said various works will be undertaken to advance the bilateral relations between the two countries to a strategic level.
Earlier today, President Conde met with Prime Minister Dr Abiy Ahmed. Ethiopia and Guinea have a long standing relation, which dates back to 1960s.

H.E. Doctor Markos Tekle, State Minister of Foreign Affairs of Ethiopia, participated in the Ministerial Meeting of the Global Coalition to Defeat ISIS that took place on 6 February 2019, in Washington DC. The meeting was hosted by U.S. Secretary of State Michael R. Pompeo and attended by 79 members of the Coalition

State Minister Dr. Markos Tekle attended a Ministerial meeting against ISIS

H.E. Doctor Markos Tekle, State Minister of Foreign Affairs of Ethiopia, participated in the Ministerial Meeting of the Global Coalition to Defeat ISIS that took place on 6 February 2019, in Washington DC. The meeting was hosted by U.S. Secretary of State Michael R. Pompeo and attended by 79 members of the Coalition.
In his intervention at the gathering, State Minister Markos Tekle stated that the effort to degrade and ultimately defeat ISIS would require multiple lines of action, including continuously preventing the flow of funds and fighters to ISIS, and exposing its true nature to the whole world. Ethiopia’s firm conviction in the Coalition’s efforts to eliminate ISIS and dismantle its ideological underpinning remains unchanged until complete victory is achieved against this terrorist group and its affiliates, the State Minister reaffirmed.
Today’s fight against terrorism is not just about governments, according to the State Minister. To successfully counter any terrorist’s threat, including ISIS, the Coalition members have to maintain their collaboration across a broader range of actors, including civil society, religious figures and community leaders, he further underscored.
President Donald Trump also spoke at the meeting in which he reiterated the United States’ commitment to defeating ISIS and its affiliates outside Iraq and Syria.

Ethio-Eritrea Peace Pact Is Having Positive Effect throughout Horn of Africa, Says Guterres

Addis Ababa, February 6, 2019 – U.N. Secretary-General Antonio Guterres said reconciliation between Ethiopia and Eritrea has illustrated bright spots on the African horizon.
Ethiopia and Eritrea signed a peace pact in July, ending two decades of animosity following a dispute over their border.
“The reconciliation is having a positive effect throughout the Horn of Africa,” Guterres said.
“We see negotiations between Djibouti and Eritrea, and we see reconciliation between Eritrea and Somalia that already took place,” he said.
“We see in many other areas movement in the right direction, and we are totally committed to work together – the African Union and the African sub-regional organizations – to support this wind of hope.”
He is also encouraged that the U.N. can hit the reset button in its relations with Somalia.
Somalia is making progress, particularly on economic reform, and the U.N. wants to encourage and support that, including through urging international financial institutions to offer their support.
The Secretary-General said further stated that there has been a “quantum leap” in relations between the world body and the AU and he hopes this can translate into progress on some of the continent’s biggest challenges.

“I am totally committed to the cooperation between the African Union and the United Nations,” Guterres told VOA in an interview at U.N. headquarters Tuesday.
“We are working more and more together in addressing a number of situations in Africa.”
Guterres also expressed optimism that efforts to end protracted crises in Libya and South Sudan could make progress this year.
“Our own objective is to make Africa overcome its difficulties, to make Africa a continent of hope, to make Africa a continent of the future, to make Africa a pillar of the world in which we live — not seen as a problem, but seen as an opportunity,” he said.
Guterres is expected to come to Addis Ababa for this weekend’s 32nd AU summit.

Ethiopian FM Receives Norwegian Minister of International Development

Addis Ababa, February 4, 2019 – Foreign Minister Dr. Workneh Gebeyehu held talks with Mr. Dag-Inge Ulstein, Norwegian Minister of International Development earlier today.
Minister Dr. Workneh appreciated Ethiopia, Norway partnership nexus in multiple areas of common interests ranging from peace and security, climate change and migration, education and increasingly in sustainable development.
Minister Dr. Workneh said, “Welcome to Ethiopia at a time of tremendous reform program we’re undertaking in all spheres of national development, in fact for the first time in the political history of Ethiopia.
“We’ve created a viable platform of consensus with all diasporas, former armed groups, and many opposition parties, despite the challenges there is a total shift in the political dynamism of Ethiopia.
He added, “The path may not be smooth but we’re on the right track achieving continental model of peace and development.”
Minister Dr. Workneh expressed gratitude for the long history Ethiopia and Norway enjoyed in strengthening the wider bilateral ties between the two countries especially Norway’s interest to support Ethiopia in youth job creation, education and health.

Minister Dr. Workneh said, “The role of the Norwegian Government for security and stability of the Horn is to be appreciated, it is pertinent to the success of our development endeavors.”
Mr. Dag-Inge Ulstein commended Ethiopia for its role towards ensuring peace and stability in the region and its diplomatic moves to craft Ethio-Eritrea historical peace deal that has ushered as a wind of hope for peace in the Horn region.
He said, “Norway stands together with Ethiopia. We support your reform agenda and we want to work closely in the spheres of job creation for the youth, education, health and migration. I hope that the reform will succeed for sustainable economic development in Ethiopia.”
Mr. Dag-Inge Ulstein appreciated the significance of normalization of relations between Ethiopia and Eritrea to the stability of the Horn of Africa, which he says, is the bedrock for Horn of Africa towards better prospect for collective peace and prosperity.
Diplomatic relations between Ethiopia and Norway started in 1947.