The Revenues and Customs authority in Ethiopia announced that it is drafting a new customs regulation.

The authority expects to issue the first draft of the regulation in three months according to Gebrewahid Woldegiorgis, Deputy Director and Head of Law Enforcement with ERCA.

It is expected that the new regulation will take effect before the end of the Ethiopian financial year said Gebrewahid.
The new regulation is designed to facilitate more modern and efficient customs processes he noted.

MIDROC Ethiopia, seeks an amendment to the Ethiopian code to allow the formation of a holding company it has established.

The holding company, Derba Group of Companies was established to play a supervisory role and offer technical and operational managerial services for long term strategic investments.

The Derba Group will be made up of thirteen projects under three independent companies. The total investment of the projects under DG is estimated at 71 billion birr, with annual sale turnovers expected to be more than 41 billion birr.

The Ministry of Communication and Information Technology, Ethiopia is preparing a national draft law to govern electronic commerce, e-Commerce.

The globalization of the world market means that international trading is an important element for economic development according to Beker Seid, Communications and Public Relations Head with the ministry. 

Ethiopia’s Ministry of Transport requested that inland transport operators to reduce the rates with import export freight. The ministry also asked for a similar reduction in fuel consumption and time.

The Ethiopian government is set to reduce the transportation cost for the country’s foreign trade sector to enhance its competitiveness on the international market according to the document presented to transporters for discussion.

The final price of Ethiopian products on the international market owes a significant amount to trade logistic costs.