ADDIS ABABA — Deputy Prime Minister Adem Farah, who also heads the Democratic System Building Coordination Center, announced that Ethiopia’s comprehensive macroeconomic reforms have significantly improved the trading environment, benefiting the business sector. This announcement was made at the inauguration of the Ethiopian Export Trade Exhibition Center.
According to Ethiopian News Agency, the implementation of these reforms has created a business-friendly environment that meets the diverse needs of the business community. He highlighted that the reforms are designed to enhance export trade, broaden the economic base, and foster a more conducive environment for sector growth. “The full implementation of macroeconomic reform has created a favorable trading environment that addresses the needs of businesses,” Farah remarked, urging businesses to leverage these improved conditions to boost their competitiveness and contribute to Ethiopia’s sustainable economic growth.
The Deputy Prime Minister elaborated that improving infrastructure, revising legal frameworks, simplifying bureaucratic procedures, reducing trade barriers, and implementing effective administrative practices are among the strategic directions underpinning the country’s development plans. These measures are part of the broader Home Grown Economic Reform policy and align with the national 10-year development plan.
In addition, Minister of Trade and Regional Integration, Kasahun Gofe, emphasized the government’s efforts in modernizing the trade sector through policy reforms and infrastructural enhancements. The Ethiopian Export Trade Exhibition Center, which represents a collaboration between the government and the private sector, serves as a concrete example of these initiatives. Gofe also mentioned significant strides in streamlining trade and investment procedures, notably through the elimination of restrictions on foreign investor participation in key sub-sectors and the introduction of digital solutions for business operations.
“The recent foreign currency administration reform, a key component of the Home Grown Economic Reform policy, is unique in its positive impact and addressing the demands of the business community,” stated Gofe, pointing out that these changes have addressed long-standing challenges and curtailed illegal activities in the sector.