The Ethiopian Revenues and Customs Authority and the Investment Climate Facility (ICF) today signed a US$7.3 million agreement to establish an electronic single window system for international trade.

The project aims to set up a single window system to handle international trade, reducing the time it takes to process, export, import and transit procedures and reducing the time and costs of clearance documents preparation, according to Ethiopian News Agency.

Beker Shale, the Director-General of the Authority said during the signing of the agreement, the project will have a huge impact on the overall trading activity of the country.

ICF CEO, William Asiko on his part said, the support ICF is providing to improve trade facilitation will help to make the country competitive and more attractive to investors.

This is the second time that the Authority and ICF are working together on projects targeting the improvement of Ethiopia's investment climate.

Investment Climate Facility (ICF) is a donor funded, private sector focused development institution focusing on the enhancement of the economic prospects of African countries by working with businesses and governments to improve investment climates in individual African countries.

Source: Ethiopian News Agency