Foreign Affairs State Minister, Dr. Tekeda Alemu and Pan African Chamber of Commerce and Industry President, Sipho Meseleku signed the agreement.

Speaking on the occasion, Dr. Tekeda said the decision made by Pan African Chamber of Commerce and Industry to make Addis Ababa as its seat was a correct decision.

He expressed hope that the chamber would voice the voice of the business communities of Africa at international fora.

Dr, Tekeda said the redevelopment of Africa depends not only governments alone but by the private sector also.

He assured the President that his government would extend all the necessary support to the Chamber in order to help it achieve success.

Meseleku thanked the Ethiopian government for its support given to the Chamber.

He said his chamber has selected Ethiopia as its seats since Addis is the seat of the African Union and UN-ECA and other international and regional organizations.

The signing of the agreement is a one step ahead for the African Economic Union.

The Chamber would strive for the strengthening of trade relations among African countries.

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