{"id":477007,"date":"2023-02-02T10:49:31","date_gmt":"2023-02-02T10:49:31","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=477007"},"modified":"2023-02-02T10:49:37","modified_gmt":"2023-02-02T10:49:37","slug":"eca-affirms-support-for-ethiopias-trade-policy-agenda","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2023\/02\/02\/eca-affirms-support-for-ethiopias-trade-policy-agenda\/","title":{"rendered":"ECA affirms support for Ethiopia\u2019s trade policy agenda<\/strong>"},"content":{"rendered":"
<\/div>\n

The Economic Commission for Africa – a think tank with specialist expertise in African and international trade policy – has recommitted to helping Ethiopia\u2019s trade policy agenda that aims to foster industrialization and sustained economic growth.<\/p>\n\n\n\n

Although Ethiopia remained outside the regional and global trading regimes for a long time, this is now changing. Not only has Ethiopia ratified the Agreement Establishing the African Continental Free Trade Area (AfCFTA), it is also negotiating its accession to the World Trade Organisation (WTO).<\/p>\n\n\n\n

However, neither the negotiations to join the WTO, nor the efforts to implement the AfCFTA Agreement has been smooth sailing. The political decision to change course and put Ethiopia at the trade policy decision making table has yet to be fully translated into a technical<\/p>\n\n\n\n

\u201cThe political resolve to be part of these regional and global trade regimes is clearly there, but it has not been matched by the technical capacity to translate this political will to concrete outcome,\u201d ECA Director, Regional Integration and Trade Division, Mr. Stephen Karingi, said at a Roundtable on Multi-partner Support on Trade Policy to Ethiopia organized on the 24th<\/sup> of January by the British Embassy in Addis Ababa in collaboration with ECA.<\/p>\n\n\n\n

Mr. Karingi confirmed ECA\u2019s readiness to work with all the partners to support the Government of Ethiopia and the Ethiopian private sector realize the country\u2019s trade policy priorities at the national, bilateral, regional, continental and global levels.<\/p>\n\n\n\n

The ECA has supported Ethiopia in trade policy development and conducted the first of its kind  analysis on the economic impact of the country\u2019s  participation in the AfCFTA. Furthermore, the ECA has supported training programmes organized for leaders and senior staff of the Ethiopian Chamber of Commerce and Sectoral Associations and the Addis Ababa Chamber of Commerce.  Recently, ECA commissioned the translation of the text of the AfCFTA Agreement into Amharic to make it closer to the people.<\/p>\n\n\n\n

Opening the round table, Ethiopia\u2019s State Minister for Trade Integration and Export Promotion, Mr. Kassahun Gofe, said advancing the WTO and AfCFTA engagement were a key tool to consolidate the domestic economic reforms achieved so far.<\/p>\n\n\n\n

\u201cIn regards to the AfCFTA, it opens a new era of trade governance in Africa, and it must be viewed as an opportunity to implement necessary structural reforms in African countries,\u201d he observed.<\/p>\n\n\n\n

President of Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA), Mr.Melaku Ezezew, welcomed the roundtable meeting as most  opportune after a lull in action since Ethiopia ratified the AfCFTA.<\/p>\n\n\n\n

Mr. Melaku Ezezew, President of Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA), citing the failure of closed-door economic policies which have hurt Ethiopia\u2019s trade competitiveness,  said the private sector needs to overcome the challenges of poor access to finance, a weak competition regulatory regime and inadequate institutional coordination which were all linked to poor policy development and implementation.<\/p>\n\n\n\n

\u201cBetter regulation is a better environment to do business; better regulation is less transaction costs; better regulation is improved competitiveness for the Ethiopian business sector,\u201d said Mr. Ezezew, noting that a bulk of the Ethiopian business sector was not informed about the AfCFTA and the WTO.<\/p>\n\n\n\n

Mr. Paul Walters, Development Director at the British Embassy in Ethiopia told participants that the UK has long been a champion of the liberal, open, and rules-based international trading system which dovetails with Ethiopia\u2019s own vision for its future as articulated in its Home Grown Economic Reform programme.<\/p>\n\n\n\n

\u201cWe firmly believe that Ethiopia\u2019s future is in the AfCFTA and the WTO,\u201d Mr. Walters said, affirming UK\u2019s commitment to assisting Ethiopia build trade policy capacity and foster private and public sector engagement in trade policy development.<\/p>\n\n\n\n

Evidence suggests that Ethiopia\u2019s membership of the WTO and meaningful trading under the AfCFTA will increase economic growth, forex-generating exports, FDI and create jobs. Furthermore, this will also enhance the transparency and predictability of its business environment as Ethiopia conforms to international standards on issues like investor protection and customs processes.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

The Economic Commission for Africa – a think tank with specialist expertise in African and international trade policy – has recommitted to helping Ethiopia\u2019s trade policy agenda that aims to foster industrialization and sustained economic growth. Although Ethiopia remained outside the regional and global trading regimes for a long time, this is now changing. Not<\/p>\n","protected":false},"author":527180,"featured_media":477008,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12040,12046],"tags":[15151,1134],"class_list":{"0":"post-477007","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-international-institutions","8":"category-leaders-en","9":"tag-afcfta","10":"tag-eca","11":"post_format-post-format-aside","12":"pmpro-has-access"},"yoast_head":"\nECA affirms support for Ethiopia\u2019s trade policy agenda - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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