-Third Nat’l anti-illicit trade summit convenes
ADDIS ABABA – The Ministry of Trade and Regional Integration (MoTRI) has issued a strong warning to those engaged in illicit trade activities, urging them to cease their unlawful operations.
The 3rd National Anti-Illicit Trade Summit, organized by the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA), commenced yesterday with the aim of preventing and mitigating the impact of illicit trade.
In his keynote address, MoTRI Minister Kassahun Kofe (PhD) emphasized the government’s unwavering commitment to taking decisive action against illicit traders and contraband operators. He highlighted ongoing efforts to collaborate with stakeholders in implementing stringent measures to curb these activities and sustain the positive outcomes achieved through policy corrections.
Minister Kofe encouraged those involved in illicit trade to transition to the legal trading system by obtaining the necessary licenses and contributing to the nation’s economic growth. He revealed that the MoTRI has engaged in extensive public consultations, reaching over 8 million consumers across the country in the past five months.
The Minister underscored that the government will intensify its crackdown on illegal traders. Over the past five months, the Ministry has taken corrective action against 108,000 illegal traders, contributing to a significant decline in inflation, from 29.2% to 19.2%. To further strengthen monitoring and control efforts, MoTRI has finalized a new trade policy and is currently engaging in discussions with relevant stakeholders.
This policy aims to address trade deficits at the macro level and support the implementation of a floating exchange rate. These macroeconomic reforms have already yielded positive results, with gold exports reaching one billion USD in the past five months.
ECCSA Secretary-General Kenenisa Lemi (PhD) emphasized the critical importance of a legal and modern trading system in fostering improved community services, including healthcare, education, and infrastructure development through increased revenue generation. He highlighted that a robust legal framework would significantly contribute to the development of entrepreneurship and technology, reduce trading costs, facilitate global trade value chains, and ensure the rule of law.
Conversely, illicit trade activities have detrimental impacts on job creation, revenue generation, and overall economic prosperity. Since its inception, ECCSA has actively promoted the expansion of a healthy and legal trading system nationwide through awareness campaigns and other initiatives.
“Today’s summit aims to facilitate discussions among stakeholders to identify effective solutions for preventing illicit trade activities,” stated Lemi. “These discussions will enable us to assess the impacts of illicit trade, particularly in sectors such as livestock, coffee, and pharmaceuticals exports, and develop concrete solutions while emphasizing the crucial role of all stakeholders.”
BY TSEGAYE TILAHUN
THE ETHIOPIAN HERALD THURSDAY 2 JANUARY 2025
