Africa-Press – Ethiopia. The Tirat Mender (Quality Village) has created a conducive environment for trade and investment by facilitating regional and international trade agreements, Trade and Regional Integration Minister Kassahun Gofe said.
President Taye Atske Selassie opened the “Buy Ethiopian” national trade week expo at the Tirat Village today.
He visited the exhibition and bazaar, which will run for six consecutive days.
Speaking on the occasion, the Trade and Regional Integration Minister Kassahun Gofe emphasized that the strength of institutions is the foundation for Ethiopia’s growth and prosperity; and it is also a measure of success or failure.
According to him, effective institutional reforms are underway to make Ethiopia’s trade landscape accessible, predictable, simple, modern, competitive, and fair, enabling the country to achieve its rightful benefits and to reach its full potential.
He stated that the Tirat Village, which was inaugurated by Prime Minister Abiy Ahmed on November 23, 2024, is a unique center that houses quality infrastructure.
He described the huge village as a game-changer for global trade that facilitates everything from conformity assessment and standardization to accreditation and metrology.
The Minister noted that Ethiopia has achieved pioneering successes in many sectors last Ethiopian fiscal year, laying the groundwork for continued success.
The country has achieved remarkable results by modernizing its business system and aligning it with contemporary global trade practices, he elaborated.
To ensure trade convenience and efficiency, Kassahun stated that over 3 million services were provided online through the use of digital technology for business registration and licensing.
By implementing streamlined and value-adding procedures, a process that once required 11 criteria and 32 days has been reduced to three criteria and seven days.
The Ministry is also working diligently to further reduce this to one criterion a day.
To address the high cost of living and commodity supply issues, he said the Ministry has increased the number of weekend market centers that connect producers and consumers to 1,567, and worked to make basic consumer goods available at affordable prices.
By taking corrective measures on the trading system for essential commodities like fuel, cement, and salt, it has stabilized prices and supply.
The Minister pointed out that export is at the forefront among the sectors that have seen significant changes following the homegrown macroeconomic reform.
He revealed that the country earned 8.3 billion USD from export in the fiscal year, achieving 161 percent of the target.
While this is a sign of a desire for development rather than a sufficient achievement, it is a significant increase compared to the 2.66 billion USD earned in 2011 Ethiopian fiscal year, Kassahun noted.
Ethiopia is carrying out effective cooperation and negotiations that take into account the global situation and ensure its benefits from bilateral, regional, and multilateral trade.
The regulation for reducing customs duties for the implementation of the African Continental Free Trade Area (AfCFTA) agreement has been published, and the national implementation strategy has been approved.
Accordingly, the first shipment under this agreement will begin in a few weeks.
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