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.