Ethiopia’s Export Surge Manifests Need for Macroeconomic Reform, Says Industry Minister
Addis Ababa, — The remarkable achievement registered in most of Ethiopia’s export products has shown the need of undertaking the comprehensive macroeconomic reform, Minister of Industry Melaku Alebel said.
The “Made in Ethiopia 2025” Expo, officially launched yesterday in the presence of Prime Minister Abiy Ahmed, will run for five days and features 288 local producers showcasing their products.
Opening a panel discussion held under the title “Strategies for Export Market Access and Diversification for Ethiopian Manufacturers” today, Melaku said the export trade is one of the issues that determines the sustainability and competitiveness of the nation’s industries.
Since the commencement of the implementation of the comprehensive macroeconomic reform, remarkable achievements have been registered on most of the export products especially, on coffee and mining products among others, Melaku stated.
Recall that the country achieved a historic milestone in the coffee sector by securing over 1.5 billion USD during the past nine months by exporting 299,607 tons of coffee.
For the minister, the achievements on most of the export products have demonstrated why Ethiopia has been implementing the macroeconomic reform.
Manufacturing industry showed an 18 percent surge compared to the previous year, as the expectation is even higher, he said, adding further endeavors need to be reinforced by all pertinent stakeholders.
Further promoting Ethiopia’s ample investment sector and its flourishing business climate is instrumental in attracting and increasing the participation of new investors, he pointed out.
Citing that the nation’s export strategy identified about 83 products, he said the strategy also consists of the favorable market destinations for those products, the quality level, and how to make the products compete at the global market.
Targets were also set to properly utilize the African Continental Free Trade Area (AfCFTA) and the global markets, he affirmed.
Emphasizing that stakeholders have a major share in supporting and promoting the manufacturing sector, the minister stressed the need to reinforcing collaborative endeavors to further boost quality which is directly related to enhancing competitiveness.
Addressing the panel discussion, heads of various institutions also emphasized the significance of collaboration among pertinent stakeholders to realize the country’s long-term ambitions in the manufacturing sector.
The panelists reaffirmed their commitment to further reinforce the ongoing endeavors being undertaken in expanding market destination, export sector promotion, market accession in multilateral trading system, and enhancing quality and standards of products, among others.
Accordingly, the government has carried out various endeavors to create a predictable and stable investment environment by implementing various bold economic reforms.
Crédito: Link de origem