ADDIS ABABA – Ethiopia has implemented substantial macroeconomic reforms designed to improve the business environment, particularly in the agricultural sector, according to Minister of Agriculture Girma Amente. The remarks were made during the release of a joint market study by the Ministry of Agriculture and the Embassy of India, focusing on export opportunities for Ethiopian products to India.

According to the Ethiopian News Agency, released in collaboration with the Embassy of India in Addis Ababa, the study analyzes export potentials and challenges for key commodities such as oilseeds, pulses, cotton, gemstones, and coffee. Minister Amente emphasized that the study is crucial for enhancing Ethiopia’s agricultural exports and for identifying strategic trade opportunities with India. In 2022, bilateral trade between Ethiopia and India reached USD 2.8 billion, with Ethiopia’s exports accounting for USD 80 million, highlighting significant growth potential.

The minister further noted that Ethiopia’s macroeconomic reforms, including the liberalization of commodity exports that allow direct purchases from local farmers by foreign entities, are aimed at boosting productivity and expanding market access. The new policies are designed to improve the value chain and economic conditions for local producers.

Anil Kumar, Indian Ambassador to Ethiopia, stated that the study reflects a commitment to strengthening economic ties and enhancing bilateral trade, particularly in agriculture. He pointed out that the synergy between India’s demand for quality agricultural products and Ethiopia’s vibrant sector creates a foundation for substantial economic benefits for both nations. The ambassador reiterated the embassy’s dedication to facilitating increased trade and economic cooperation.