ADDIS ABABA- Ministry of Trade and Industry announced that the revenue obtained from commodities under its supervision during the past three months of the current Ethiopian fiscal year surpassed that of the past year same period by over 95 million USD.
The Ministry held a discussion to evaluate the performance of the first quarter of this fiscal year as well as new rules and improvements with federal and regional stakeholders yesterday.
During the occasion, Plan and Budget Director with Ministry, Mengestu Heluf said that the Ministry plans to obtain 797.7 million USD from exports during the reported period whilst the performance was over 723 million USD, achieved 90.6 percent of the plan. This year’s performance has exceeded that of same period last year by 15 percent.
Accordingly, agricultural products had the lion’s share in generating 586.1 million USD whilst the plan was 582.3 million USD, outstanding the plan. The nation was also secured 115.1 million USD from manufacturing products, achieving 67.1 percent of the goal.
The Director stated that the Ministry has been implementing different mechanisms to generate additional foreign currency through preventing illegal trades, preparing schedule of tariff concession rules, expanding export destinations as well as putting a modern trade system.
The summit exchanged views on creating modern and competitive trade system, expanding environmental amenity manufacturing and industry investment and increasing hard currency by creating good trade system. Developing manufacturing products and increasing employee’s performance are also issues stakeholders conferred in the one-day session.
The Ethiopian Herald, December 6/2019
BY BETHLEHEM ASFAW
