2merkato

Power exports to Djibouti earn 2.1 Million US dollars monthly according to the Ethiopian Electric Power Corporation.

The EEPCo is currently exporting 34-40 MW of electricity to Djibouti and is generating 2.1 million US dollars  every month said Meskir Negash, Head of Public Relations for the Corporation.  

EEPCo supplies the electricity between five in the afternoon to one in the morning which is not a peak demand period for domestic customers explained Meskir.

Ethiopia expects to earn more than 233 million US dollars through the export of leather and leather products this financial year.

The estimated revenue is almost double the amount earned last year according to the projected figures by the Leather and Leather Products Development Institute.

It is to be remembered that Ethiopia earned about 112.1 million US dollars from the sector in the last financial year. The revenue was lower than the 206 million US dollar projected by the institute for the fiscal period.

The Common Market for Eastern and Southern Africa announced that it is to implement a pilot project on Virtual Trade Facilitation System in the Djibouti Corridor of Ethiopia.

The project is expected to enhance regional competitiveness, to expand trade, exchange information and coordinate activities according to Ahmed Shide, State Minister for Finance and Economic Development speaking at COMMESA Trade Facilitation Workshop held in Addis Ababa.

The system facilitates the tracking of cargo, control of the movement of goods and monitor and to ensure the efficiency, time management, cost effectiveness and transparency reducing time and cost for cross border and local transport as well as transit traffic along the corridor he added.

A delegation of business and government representatives from the Czech Republic and a member of the International Chamber of Commerce held discussions with the Ethiopian Chamber of Commerce and Sectoral Associations on bilateral trade and investment opportunities in Ethiopia.

The economic policies adopted by the governments of the two countries in the last 20 years have served to promote direct trade between the business communities in the two countries said Gebrehiwot Gebreegzihber member of the ECCSA board of Directors.

As consequence of such policies the trade between the two countries has grown from just 312 thousand US dollars in 2004 to more than 12 million US dollars this year he said.

Ukraine’s largest private power and coal producer DTEK is to supply coal to Ethiopia this year. The company will deliver coal to Ethiopia to be used in cement production as part of its bid to increase its presence in forign markets.

The export potential to African markets is estimated at least 300, 000 tons of anthracite coal according to Andrev Favorov, Commercial Director with DTEK in a statement.

There is significant demand for high quality anthracite coal on the African continent he noted.

Revenue from flower exports grew to 212.5 million US dollars in Ethiopia in the last financial year. The revenue is fourteen percent higher than the money earned in the previous fiscal year because flower exports has grown to 2.1 billion stems from 1.8 billion stems.

The increase in revenue is attributed to the implementation of newly enacted control mechanisms.

The new mechanisms put in place eliminated the previous system whereby custom officials just counted the stems in selected boxes to estimate exports allowing a loophole for exporters to retain some retain some revenue outside of the country.

Ethiopia and the Netherlands signed a bilateral trade agreement to avoid double taxation to develop the trade system between the two countries, enhance investment activities as well as allowing transfer of technology between the two countries.

The trade accord was signed between Alemayehu Gujo, State Minister of Finance and Economic Development and Hans Blankenberg, Ambassador from the Netherlands.

The agreement would play a notable role in supporting investment activities between the two countries through establishing fair taxation said Alemayheu at the signing. The agreement will enable the exchange of goods and services and facilitate the flow of capital eliminating double taxation enacted on companies and individuals he added.

Ethiopian manufacturers and processors expressed their concern over the cheap and low quality goods imported from China.

Representatives of various Ethiopian businesses expressed their disappointment with poor quality of Chinese products that are currently flooding the market at a meeting with a Chinese business delegation of the International Trade Promotion Chamber of Commerce visiting Ethiopia.

A significant proportion of Chinese imports are of below the standards of quality established for the market noted the representatives at the meeting organized by the Ethiopian Chamber of Commerce and Sectoral Associations.

Ethiopia has launched a test run as part of efforts to export electricity to Sudan according to sources at the Ethiopian Electric and Power Corporation.

The test run for power supply was launched this week after the finalization of the Ethiopia-Sudan Transmission Line set up at a total cost of 41 million US dollars confirmed authorities at the EEPCo.

Ethiopia expects to provide 100 Mega Watts of electricity during the test run according to the source.

Ethiopia exported just 183 tons of cotton out of several thousand tons of surplus production in the 2011-12 financial year.

The exports for the fiscal year were executed after the government lifted its 18 month export ban in March of 2012.

Ethiopian cotton went to Portugal earning 5.1 million birr according to a report released by the Ministry of Trade. Exports would have been higher if it had not been for the ban said a manager of the Ethiopian Cotton Producers and Experts Association.