Kenya, Ethiopia deepen economic ties with revamped agreement

Kenya’s President William Ruto and Ethiopian Prime Minister Abiy Ahmed have endorsed the revitalization of the 2012 Special Status Agreement, emphasizing trade and investment in bilateral talks at State House, Nairobi.

Prime Minister Abiy Ahmed is on a three-day State visit to Kenya, where he and his delegation were welcomed by President William Ruto.

The visit follows the signing of preliminary agreements between the two countries to expedite the cooperation on seven key areas.

Abiy and Ruto held discussions on bilateral and regional issues in Nairobi where both leaders pledged to deepen the economic ties between Ethiopia and Kenya.

Prime Minister Abiy said the strong bilateral relations will be pivotal in expediting the realization of ambitious economic plans of both nations.

The sub-station facilitates cross-border transfer of power between Kenya and Ethiopia, and soon with Tanzania, via the 400kV Isinya Substation.

This project aims to provide reliable and affordable energy from a regional resource base, allowing access to clean regional energy and reducing pollution and vulnerability to climate change.

It will increase the volume of power supply at a lower tariff, thus reducing the cost of electricity in Kenya by more than KSh90 million average bulk purchase cost.

The visit comes a week after the 36th meeting of the Ethiopia-Kenya Joint Ministerial Commission in Addis Ababa.

The JMC ended with the signing of seven Memoranda of Understanding aimed at enhancing cooperation in areas of mutual interest.

They include cooperation in cultural development, tourism and wildlife, the blue economy, correctional services, petroleum and energy development, and capacity building in the public service.

President William Ruto said the two nations are keen on strengthening partnerships that will boost their quest for rapid economic transformation and shared prosperity.