ADDIS ABABA – Trade and Regional Integration Minister Kassahun Gofe reiterated the necessity of producing goods in sufficient quantity and quality in order to be competitive in the global market.
A panel discussion, which focused on export and regional integration issues, was held with the pertinent stakeholders today.
Speaking on the occasion, the trade and regional integration minister said Ethiopia has untapped resources and agro-ecology that contribute a lot to productivity.
However, he noted that much is expected to be done to fully realize the country’s capacity to produce products to the global market in quantity and quality.
“We should be competitive by turning out sufficient quantity and quality products that meet the needs of the international market,” the minister stressed.
However, Kassahun stated that efforts the shortage of foreign currency has been a challenge for a long time, putting a lot of pressure on export trade.
In this regard, the recent macroeconomic reform would contribute a lot toward resolving this and other related problems, he added.
A panelist from Addis Ababa University, Andualem Goshu said only 14 percent out of the over 60 percent of arable land is being cultivated in Ethiopia.
Nothing that the country has the potential to benefit from the international markets by boosting productivity, he added that utilizing the potential to maximize export earnings is crucial.
According to him, the implementation of the African Continental Free Trade Area (AfCFTA) and Ethiopia’s membership in BRICS as well as the ongoing negotiations to WTO accession will stimulate export.
Ethiopian Pulses, Oilseeds, and Spices Processors and Exporters Association President, Edao Abdi said Ethiopian products are preferred in the international markets and there is a favorable geographical proximity to some of the markets.
He also underlined the importance of increasing quality and quantity of products based on the needs of the international market, supporting processes by technology and adding value.
The president further underscored the need for a well financed agriculture sector as most of Ethiopia’s export commodities come from the agriculture sector
Improving and modernizing the transactions and capacity building is also imperative, he added.
The half-day panel discussion highlighted on mainly accelerating export earning by effectively seizing opportunities and addressing challenges faced in the various sectors, ENA reported.
THE ETHIOPIAN HERALD WEDNESDAY 28 AUGUST 2024
