The UAE Federal Customs Authority (FCA) and Ethiopian Revenues and Customs Authority (ERCA) have signed an initial agreement for mutual technical assistance in customs related matters. The agreement came on the side-lines of the ongoing meeting of the UAE-Ethiopia Joint Committee.
Khaled Al Bustani, acting Director General of FCA, said the agreement would contribute towards augmentation of trade between the UAE and Ethiopia, emphasising the FCA's keenness to increase the UAE's international trade partners through such bilateral agreements in order to realise FCA's strategic objectives to facilitate trade and cooperation with international partners.
The FCA's plan to boost UAE's trade with those partners, he noted, would build on the UAE's prominent position as a leading world trade hub having trade ties with most countries of the world.
The UAE, he noted, maintains close and growing trade ties with Ethiopia as a strategic partner in Africa.
Saud Salem Al Aqrouby, Head of FCA's International Relations Department, said trade exchange between the two countries from 2009 up to mid-2014 reached Dh 9.3 billion, with the UAE's exports standing at Dh 1.2 bn.
He described Ethiopia as an important market for the UAE's re-exports, valued during the same period at Dh 6 bn.
'This agreement aims to remove trade barriers through exchange of information and expertise on shipments, customs policies, training as well as procedures and inspection. It will also protect the countries from illegal trade practices,' he said.