-Generates 2.7 bln USD in 5 months
ADDIS ABABA-The Ministry of Trade and Regional Integration (MoTRI) announced that Ethiopia has achieved a significant milestone, generating 2.7 billion USD in export revenue within the past five months.
Bereket Meseret, CEO of the Foreign Products Promotion Department at MoTRI, highlighted this achievement, noting that this level of export revenue previously required an entire year to attain. He emphasized the ministry’s commitment to fostering conducive business environment for investors through the implementation of supportive policies.
According to Bereket, exports encompassed 178,000 metric tons of coffee beans and 140,000 metric tons of cereals and oilseeds.
The CEO also stated that the office has been actively addressing security concerns faced by exporters in certain parts of the country.
Through strong collaboration with state security agencies at all levels, significant progress has been made in providing security support to exporters from manufacturing sites to ports.
Furthermore, policy reforms have been implemented to address the financing, technological, capacity, and performance challenges faced by local exporters. These reforms have also identified investors who have obtained bank loans for purposes other than export.
To address exporters’ challenges in accessing market opportunities, the government has enacted the Manufacturers Proclamation and established the Ethiopian Commodity Exchange. These initiatives aim to facilitate cost-effective marketing for exporters.
While local exporters have shown limited interest in engaging in agricultural activities, the recent reforms have presented a significant opportunity for those seeking to invest in land acquisition. The government is actively working to provide land and essential facilities to both domestic and international investors, Bereket remarked.
BY BETELHEM BEDLU
THE ETHIOPIAN HERALD SUNDAY EDITION 29 DECEMBER 2024
