2merkato

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.

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 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.

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.