2merkato

Ethiopia will export only finished leather goods beginning next month, announced the Ministry of Trade (MoT).

The groundwork has been laid to halt the export of raw hides and skin as of December said Ahmed Nuru representing the Minister of Trade at a half day consultative forum discussing the national leather sector.

Leather factories in Ethiopia have developed the capabilities to export finished leather goods said Ahmed. The factories have enhanced their capacity to add value to leather to a higher standard he explained.

Efforts to increase revenue from the leather sector to 497 million US dollars within the next five years are underway according to Ahmed.

The Ethiopian Horticulture Development Agency announced that Ethiopia has earned 55 million US dollars in horticultural exports in the first quarter of this fiscal year.  

The revenue was raised from the export of fruits and vegetables as well as flowers and other produce explained the press statement from the agency.

The Ethiopian Revenues and Customs Authority (ERCA) announced that it has raised 1.6 billion birr in tax from Addis Ababa, in the first quarter of the current fiscal year. The money collected is double that of the same period last year.

Revenue raised from municipal services increased the revenue from the capital city to 1.75 billion birr, making up 30% of the sum the tax authority plans to raise this fiscal year.

The Ethiopia tax authority raised an additional 16 billion from tax and non tax revenues on the federal level in the past quarter.

The Ethiopian Fruit and Vegetable Marketing Enterprise and Merchandise Wholesale and Import Trade Enterprise have announced an upcoming merger. It is expected that a merger between the two enterprises will result in expanding their services.

The merger between the two state-owned enterprises will create a large retail corporation as per decisions that followed a visit to India by high level representatives of the Ethiopian government two months ago.