KEYIR NEWS - Trade Minister Kassahun Gofe (PhD) highlights progress in easing business processes and preparing for continental free trade integration.
Ethiopia earned a total of 8.3 billion US dollars from export trade during the 2017 Ethiopian fiscal year, according to Trade and International Relations Minister Dr. Kassahun Gofe.
The announcement was made at the annual sector conference, convened under the theme “Towards a Realised National Hope through Streamlined Trade.”
Presenting the year’s performance, Dr Kassahun noted that significant progress had been made in improving the country’s business climate by making processes more affordable, accessible and efficient. Among the major achievements, he highlighted the expansion of digital services in business registration and licensing, with more than 3,025,767 licences issued online nationwide.
“The introduction of streamlined services has reduced bureaucracy and enhanced transparency, enabling businesses to operate with greater ease,” he said.
In terms of foreign trade, Ethiopia’s exports generated $8.3 billion over the budget year. While the figure reflects incremental progress, government officials emphasised that boosting export performance remains a central priority in light of the country’s ambitious development plans.
Dr Kassahun further disclosed that a comprehensive national implementation strategy has been finalised to operationalise Ethiopia’s commitments under the African Continental Free Trade Area (AfCFTA).
The strategy aims to strengthen the country’s participation in bilateral, regional and multilateral trade relations while positioning Ethiopia to capitalise on the continent-wide market integration.
“The AfCFTA provides unprecedented opportunities for Ethiopia to expand its export base, attract investment and accelerate industrialisation,” he remarked, stressing the government’s commitment to ensuring effective implementation.
The conference also reviewed Ethiopia’s broader trade reform agenda, which includes promoting competitiveness, diversifying exports, and expanding access to regional and global markets.
Participants noted that while structural challenges persist, including foreign exchange shortages, logistics inefficiencies, and limited value addition, the foundations for a more robust trade sector are being laid.
Observers suggest that Ethiopia’s export earnings, though below their potential, demonstrate resilience amid global economic headwinds. Policymakers are expected to intensify efforts in 2018 to align trade strategies with industrialisation goals and to maximise benefits from continental integration.
The annual sector meeting concluded with a call for sustained collaboration among government institutions, private investors and development partners to ensure that trade becomes a stronger driver of Ethiopia’s economic transformation.