Actress Meskerem Abera, Dagmawit and Samson

Although there are regulations governing trade, it has been said that there has not yet been a consistent policy to properly guide it.

This was stated today during a discussion on Ethiopia’s draft trade policy.

The Minister of Trade and Regional Integration, Kassahun Goffe, said that the absence of a policy to manage the trade system has impacted trade operations and investment development in the country.

It was noted that the Ministry of Trade and Regional Integration, which is 117 years old, has not had operational trade policies to date.

The Minister emphasized the necessity of formulating a trade policy, stating that once the policy is approved and implemented, the sector will have a consistent system to guide it.

It was said that the lack of a proper and consistent trade policy to govern Ethiopia’s domestic trade system has caused the trade system to be plagued by numerous problems.

For example, it was mentioned that the import trade is not guided by a consistent approach and structure, and the export trade is not managed equitably by various institutions.

It is believed that once the trade policy is approved, it will enhance national competitiveness, expand export trade, and increase the share of foreign products in terms of type, volume, and market access.

The policy is expected to reduce Ethiopia’s export trade dependence on agricultural products, thereby enhancing the competitiveness of export products and services.

Since wholesale and retail trade activities in Ethiopia are largely conducted informally, with many trade organizations and intermediaries who do not add value, the policy is expected to address this by establishing a competitive and efficient logistics sector.

It was heard that the export trade will enable efficient services by avoiding delays observed in customs services.

Yared Endashaw