Offers some 6,000 commodities tariff to AfCFTA
ADDIS ABABA –Ethiopia is set to commencetrial trading ofcommodities under theAfrican Continental Free Trade Area (AfCFTA), Ministry of Trade and Regional Integration (MoTRI) announced.
In an interview with FBC, MoTRI Minister GebremeskelChala said that Ethiopia has made the necessary preparations put in place the trial trading phase and implement the framework agreement through streamlined strategies.
“Alike other African member countries, Ethiopia is currently employing preliminary activities to commence commodities trial exchange of goods with selected counterpart countries,” he underscored.
He further mentioned thatthe Ministry has also projected to nullify 90% import taxes of agricultural and industrial products within ten years.
Similarly, some 7% of goodsare also approved to be nullified in the long term and other 3% strategic items exempted from the listthat is believed to give policy space for the given nation framed as per the common framework agreement, the Minister noted.
Thus, the countryhas approved 90% ofcommodity tariffs for 6,000goodsto the African Free Trade Zone, he further remarked.
When this trade agreement framework is effectuated in full swing, it would become world’s leading free trade zone thatrealizes the African Union’s Agenda 2063 goal of becoming economically vibrant and influential continent, it was learnt.
It is to be recalled that the leader of the African Union member states has recently endorsed Ethiopia’s tariff line poised to exchange goods within the AfCFTA.
BY ASHENAFI ANIMUT
THE ETHIOPIAN HERALD THURSDAY 21 MARCH 2024
