Ministry of Trade disclosed Ethiopia has finalized works to join the Eastern and Southern African Common Market (COMESA) free market area.

According to the Trade Relations and Negotiation Director-General at the Ministry, Geremew Ayalew, Ethiopia has been looking for markets for its industries' increasing market demand.

He added competence of Ethiopian industries has been growing and the industries are in their stage of producing items meeting international standards. He furthered, Ethiopia has been making various arrangements bilateral agreements, sub-regional free markets like COMESA, and international markets through negotiations with WTO. Out of these, there are 16 bilateral trade agreements concluded by the nation with African, Asian, European and North American countries.

In order to illustrate this Geremew cited the agreement concluded with Sudan for the purpose of creating free market area between the two nations.

Finalizing preparations to join the free market of COMESA, the Federal Government ratified the free market area arrangement via its Legislature.

According to Ethiopian News Agency, the agreement will enable the countries to eliminate tariffs, quotas and preferences on most (if not all) goods that they trade among themselves.

Source: Ethiopian News Agency