ADDIS ABABA-The Ministry of Trade and Industry says it would soon devise mechanisms that increase export earnings in the short term.
The Ministry’s mid-term assessment indicated declines in the export earnings as compared to previous same reporting periods.
The first and second months of the second quarter export performance, for instance, marks reduction of foreign earning. “The country gets only 191.47 million USD against its plan of 358.60 million USD in November, a rate marking a drop 36.10 USD compared to same period last year,” Ministry’s Communication Director Wendemu Felate.
However, Tantalum, Bahr Zaf (Eucalyptus tree), and Chat export performed well with rate between 75 percent and 99 percent.
Coffee, tea, pulse, leather, textile, flower and electric export stand second performing between 50 percent and 74 percent of the plan.
Price decline in the international market are said to be among major contributors for the unsatisfactory performance.
But under invoicing [price less than actual] and over invoicing
[price over the actual]
intended to feed wrong information to tax administrators also accounted for the shrinking of the export figures, he said.
“Bazaar, trade sales and exhibitions will be staged for potential exporters to promote their products while raising exporters’ awareness to provide genuine information regarding sells.”
A coffee exporter that involved in the business for the last forty years spoke under the condition of anonymity commented that government should be strict on exporters that compromise quality. “Few export second graded coffee on behalf of first, derailing buyers’ trust which we built for years.”
State Minister of Finance Eyob Tekalegn who recently spoke to Fana Broadcasting Corporate said a roadmap is being drawn to bring structural change to export trade.
It was said that the country earned around 1.64 billion USD from export trade over the last 8 months.
The Ethiopian Herald April 05/2019
BY BETHLEHEM ASFAW
