ADDIS ABABA– Ethiopia’s new export strategy is vital to enhance the penetration of its commodities into the global market, exporters said; adding that it is a great step to address the sector’s pressing challenges.
The Ministry of Trade and Regional Integration (MoTRI) tabled the draft export strategy, which said to serve the country till 2030, for exporters’ feedback and discussion.
KhalifaHussien, Director of a meat exporter firm FrigorificoBoran Foods PLC, stated the strategy is of great importance in helping the competitiveness of Ethiopia’s exportable items in the international market. “The export industry needs strong commitment from the government and I think this strategy should come with an innovative framework to enhance the sector’s performance.”
Also, the strategy has many more new and important additions that could help the export sector to overcome the pressing challenges and to improve prospects, he added.
For MinilikHabtu, Managing Director of specialty coffee exporter company- Typica Coffee, investment should get prime attention by the draft strategy. “The income we are generating from the export should be supported by both investment and business diplomacy.
Several countries without noticeable quality advancement from our products have got better markets due to meticulous promotion and branding activities. Hence, Ethiopia’s diplomatic missions across the globe should make vigorous promotion of local products.”
EdaoAbdi, General Manager of Edao International Trading Company, also advised the government to give due attention to new commodities that would create additional market and forex earnings for the country. Export diversification is also a tool to supplement the revenue loss that could be incurred due to the underperformance of main exportable commodities.
By 2030, the annual income from export is projected to hit 28 billion USD, it was learned.
BYYESUFENDRIS
THE ETHIOPIAN HERALD 5 SEPTEMBER 2023
