Ethiopia’s ruling party announced plans Tuesday to implement a long-moribund peace deal with Eritrea, opening the way for improved relations after 18 years of hostility. The surprise announcement also included plans to allow private sector involvement in industries long reserved for the state, in a major revision of economic policy. A peace agreement known as the Algiers accord was finally signed in 2000, and international arbitration awarded the village to Eritrea — but Ethi­o­pia balked at implementing the deal. Other sectors, however, will be open to full private sector ownership, including railways, the sugar industry and hotels, said the announcement. Inviting in the private sector appears to be an effort to rethink the country’s state-driven growth model and boost the economy.

Source: Ethiopian News June 05, 2018 18:22 UTC