2merkato

Ethiopia has not signed the COMESA Free Trade Agreement. Some professionals say that this could keep Ethiopian businesses from benefiting from the initiative.

Businesses in the Common Market for Eastern and Southern Africa (COMESA) states will now be able to participate in tenders issued in one another’s countries with a 15 percent preferential treatment against international bidders.  

All the same, Ethiopian businesses will still enjoy the preferential treatment although tariffs will be levied on their exports to COMESA states as the country has not signed the FTA, Gashaw Debebe, secretary general of the Ethiopian Chamber of Commerce and Sectoral Associations, said.

Tigray has launched an 11,000-metre first phase drill program at Harvest project.

Tigray Resources Inc., a Canadian mineral exploration company focused on advancing early stage mineral projects in Ethiopia, announced yesterday that it would begin trading on the TSX Venture Exchange today under the symbol TIG.

Early this month Tigray Resources Inc had received conditional listing approval from the TSX Venture Exchange.

OTC Markets Group Inc announced today that Ethiopian Potash Corp., a Canadian mineral exploration company, was now trading on the highest tier of the OTC market, OTCQX.

Ethiopian Potash began trading today on the OTC market's prestigious tier, OTCQX International.

"The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors," said R. Cromwell Coulson, president and CEO of OTC Markets Group. 

Steel rolling mills in Ethiopia are going to be prohibited from importing billet (semi finished steel).
There are eight steel rolling mills in Ethiopia which import billet.

The Ministry of Finance and Economic Development decided two weeks ago to ban the billet imports and assign a state enterprise to import the billets and distribute them to the rolling mills.