Ethiopia and Sudan have penned a deal that will pave the way for using Port Sudan for transporting oil to energy-craving Ethiopia .
The cooperation agreement was signed on Wednesday by executive director of the Ethiopian Petroleum Supplier Enterprise Haile Mariam with Sudan’s investment minister Mustafa Osman Ismail in the Sudanese capital Khartoum, Sudan News Agency reports.
According to a study conducted by Ethiopia, utilization of Port Sudan would bring considerable financial benefits for the Ethiopian economy.
Details on wherefrom will oil be imported have not been disclosed.
The move comes as the two neighboring countries endeavor to boost economic cooperation and commercial exchange especially with respect to the private sectors.
Miriam said that Ethiopia will establish a bank in Sudan so as to facilitate the investment and commercial exchanges between the two countries.
World Maritime News Staff; Image: USDoS