The Ministry of Trade and Industry stated that the government and pertinent institutions are committed to exert maximum effort to balance the country’s import and export trade. Misganaw Arega, Trade and Industry State Minister, said Ethiopia’s trade balance between import and export should be narrowed to reach the long-term goals of the country.

According to Ato Misganaw, the government will make balancing the trade transaction a priority because of the significant contribution of export trade for the country’s inclusive growth. The State Minister said all “have to also work hard to diversify our export which is mainly dependent on agricultural products.”

The government will take all the appropriate measures such as mobilizing private and public financial institutions and combating contraband trade in order to exploit Ethiopia’s huge export potential.

Ethiopia generates over 80 percent of its income from agricultural products. In the 2017/18 fiscal year, the country registered USD 2.8 billion export earnings.

Source: Ethiopian News Agency