ADDIS ABABA – Ethiopia sees active private sector participation as the core part of the ongoing reform, said Dr. Teshome Tafesse, State Minister of Finance and Economic Cooperation.
Speaking at the First Africa International Conference on Trade and Finance yesterday on the premises of the African Union headquarters AU, he restated that the private sector is one of the major step that the government is planning taking over on its reform that is expected to play a key role in Ethiopia’s journey to become a middle income country in the next decade.
He, however, said Ethiopian firms are usually facing financial constraints, because financial institutions do not fully accommodate their demands.
Without adequate support from financial institutions, large, medium and small business alike are not able to compete, grow or create more job opportunities, he added.
On the occasion the Addis Chamber of Commerce President Mesenbet Shenkute said that “Integrating Africa from north to south west to east was conceived by our founding father of the then OAU the impetus for Africa market.”
According to her, the objective of the conference is to articulate ways of enhancing Inter- Africa Trade and also to create regional integration, trade liberalization trade policies and practices of the Africa continent to turn talks into actions.
“This is the first of many such conferences planned in collaboration and partnership with other African chambers and trade blocks to bring the African continent together to trade with each other to prosper and to envision that Africa becomes one of the major trade blocks in the international business community.”
“Our
political leaders have contributed their share by establishing framework as and
institutions and indicate ways of enhancing lnter -Africa Trade and Regional
Integration,” Said Mesenbet.
“The political commitment by many of the African leader to improve the business and development climate has been further evidenced by establishing the African Continental Free Trade Area CFTA which aims to expand intra African trade through better harmonization and coordination of trade. We need to realize that the potential to harvest the benefits of keeping trading transactions within the continent is enormous, to say the least,” she added.
The two- day conference which has brought together policy makers, top business executives, key industry players and subject matter experts from different corners of Africa is expected to discuss business potential, opportunities and investments focusing on trade, finance, logistics and many more pressing issues of the African continent. And see challenge and opportunities in implementing the African Continental Free Trade Area CFTA agreement..
Herald April 23/2019
BY FASICA BERHANE
