2merkato

The 3rd Metal and Engineering International Exhibition was opened in Ethiopia. The exhibition is targeted at promoting the metal industry sector and developing market relationships between the domestic and international metal institutions.

It is expected that the exhibition will serve as a platform to bring together those engaged in the sector.

Several project launched in Ethiopia as part of developmental initiatives such as the railway network, hydro electric power generating dams, sugar and fertilizer factories all require a significant amount of input from the metal sector according to Tadesse Haile, State Minister for Industry.

The Aviation Academy of Ethiopian Airlines, Ethiopia’s flag carrier, graduated 106 pilots, cabin crew and marketing agents.

Twenty of the graduates are pilots, while 43 are cabin crew and 43 are marketing trainees.

The graduating pilots have successfully completed the commercial piloting course offered by the academy with instrument and multi-engine ratings. Trainees undertook 695 hours of instruction in class and 170 hours of practical flight training on both multi-engine and single engine aircraft as well as 25 hours in a range of training devices and simulators throughout the course of the two year training program.

A high level study being conducted by various government institutions to form a new is new corporation in Ethiopia is near completion. The new corporation known as the Ethiopian Trade Enterprise will be a merger of three public enterprises: The Merchandise Wholesale and Import Trade Enterprise, The Procurement Services Enterprise and the Building Materials and Supplies Enterprise.

The study has been in progress for the past six months conducted by a committee made up of officials from various institutions such as the Ministry of Finance and Economic Development, Ministry of Trade, and the Ministry of Industry.

The committee, chaired by Neway Gebreab, Economic Advisor to the Prime Minister, is in the process of recruiting employees for the new corporation said a non-authorized source.

The city administration of Addis Ababa, Ethiopia proposed a 16 billion birr preliminary budget for the next financial year. The budget gives priority to water and sewerage services which make up 13% of the financial plan.

The preliminary budget prepared by the Finance and Economic Development Bureau of the city will be tabled before the Addis Ababa cabinet which is chaired by Kuma Demkssa Mayor of the city.

The proposed budget is 4.2 billion birr more than that for the current fiscal year.

The office of the Prime Minister of Ethiopia has approved the 1.7 billion birr soft loan from the Export-Import Bank of China for the water wells project of the Addis Ababa Water and Sewerage Authority.

The loan has been referred to the Budget and Finance Standing Committee of the House of Representatives before being tabled before the Parliament for final approval.

The project will be launched after receiving final approval and is expected to be complete in two year’s time.

Exports from Ethiopia to the United States are still much lower then would be expected in light of the African Growth and Opportunity Act enacted by the US in the year 2000 to help sub-Saharan Africa export more to the US.

Although Ethiopian exports to the United States have grown steadily to reach an estimated 144.5 million US dollars the growth is much less than that seen in other African countries.

Ethiopia hopes to emulate the experiences of countries such as Mauritius and Lesotho to enhance its textiles trade to earn up to a billion US dollars in textile exports in the coming years.

Ethiopia is to begin the export of Damask Oil, an essential oil extracted from Rosa Damascena (a type of rose) beginning in August of 2012. The oil will be exported by Terra plc to Germany, to a company called Walla Gmbh.

Damask Oil used for its medicinal and cosmetic benefits can fetch as much as 7500 US dollars a liter.

Terra, owned and managed by German investor Dr. Awad Ghanem has began a trial production of the rose with 532 seedlings supplied by GTZ. The company currently has 35 thousand seedlings said Wogderes Negash, Manager of the farm found in Debre Berhan.

Ethiopia earned 213 million US dollars from the export of meat and livestock in the last 10 months announced the Ministry of Agriculture.

The export of livestock represents 71% of the revenue earned from exports while meat exports made up the difference. The revenue earned is just 62.5% of the targeted 340.4 million US dollars for the period.

Export earnings from meat and livestock is lower than expected because of the poor market ties the country has with the international livestock market said Tefera Deribew, Minister of Agriculture.

Ethiopia is set to privatize six enterprises through auction as the financial year winds down. Ghion Hotel and Awash Winery are expected to be part of the six according to sources.

The minimum price set for Ghion Hotel is expected to be between 100 and 150 million US dollars whereas the indicative price for Awash Winery will be set at 438 million birr according to unofficial sources.

This was not confirmed by Wondafrash Assefa, Director of Corporate Communications for the Privatization and Public Enterprises Supervising Agency.

Israel is interested in sharing expertise and technology in the areas of agricultural extension, research, irrigation, livestock and poultry development among other areas with Ethiopia according to Orit Noked, Minister of Agriculture and Rural Development of the State of Israel.  

It is important to Israel to share agricultural expertise with Ethiopia said Noked at a  meeting held with Hailemariam Desalegn Deputy Prime Minister and Minister of Foreign Affairs of and Tefera Deribew, State Minister for Agriculture.

The two sides agreed to establish a technical committee to identify areas of common interest to enhance bilateral relations between the two countries in the area of agricultural development.