2merkato

Ethiopia has earned 1.35 billion US dollars from the export of various goods in the first two quarters of the Ethiopian financial year according to the Ministry of Trade.

More than 35 kinds of agricultural and industrial products were exported to and estimated 120 countries across the world during the course of the financial period said Abdurahman.

Exports included coffee, khat, gold, oil seeds, live animals, leather and leather products, flower, garments, fruits and vegetables, meat and spices which make up 1.3 billion US dollars or 97% of the total revenue raised he said.

Ethiopia’s trade deficit remains high in spite of notable increases in exports. The gap in the trade balance is failing to lessen because many raw materials used by significant projects, including infrastructure, are imported according to Abdurrahman Seid, Public Relations Deputy Coordinator at the Ministry of Trade.

Import requirements associated with infrastructural development in particular affect the trade deficit because of the massive infrastructure projects that are currently being implemented in the country he said.

Experts from the Commodity Exchange in Ethiopia are to train stakeholders and personnel of the Ghanaian Commodity Exchange according to Ms. Hanna Tetteh Ghanaian Minister of Trade and Industry.

The training is to begin in the first quarter of 2012 she said.

The Ethiopia Commodity Exchange signed a settlement agreement with Oromia Cooperative Bank, Ethiopia last Tuesday.

The agreement was signed by Wondimagegn Negera President of Oromia Cooperative Bank and Ahadu Wubshet, Chief Operations Officer at the ECX.