August 10, 2018 - The United Arab Emirates (UAE) has reached an agreement with Ethiopia to build oil pipeline linking port city of Assab, Eritrea, and Addis Ababa, according to ENA quoting the Ministry of Foreign Affairs.
According to the report, the agreement was reached when Prime Minister Dr Abiy Ahmed met with Reem Al Hashimi, UAE Minister for International Cooperation.
The two sides also discussed ways of increasing investment and consolidating bilateral ties between Ethiopia and UAE.
During a visit to Ethiopia on June 15, Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE’s Armed Forces, Sheikh Mohammed bin Zayed Al Nahyan, extended two billion USD in terms of investment in various fields to Ethiopia and 1 billion USD to alleviate the shortage of foreign currency.
The Ethiopian Prime Minister visisted UAE soon after he was elected to office.