2merkato

A wire and cable manufacturing plant was inaugurated in Ethiopia by Siraj Fegesa Minister for Defense. The manufacturing planted constructed in the Oromia Regional State is expected to contribute towards alleviating the shortage of electric wires and cables in the country he said at the inauguration ceremony.

The products manufactured by the plant are expected to play a significant role in supporting the large infrastructural projects in the country including the construction of hydro electrical dams, railway systems, sugar factories, fertilizer factories, road networks and other industrial initiatives that are part of the national development agenda according to Shambel Assefa Yohannes, Manager of the Ethiopian Power Engineering Industry.

Ethiopian Electric Power (EEP) announced that the installation of power distribution and transmission lines for the Wolqait Sugar Factory in Tigray Regional State will be completed in April 2016.

A national workshop on mainstreaming trade into Ethiopia’s national development strategies launched in Addis Ababa, Ethiopia on Wednesday 30 August, 2013.

The aim of the workshop is to support trade policy making by strengthening the capacity of key government agencies that are directly responsible for mainstreaming trade into the national development strategies, Ethiopian News Agency reported.

A World Bank economist on Tuesday, July 22, 2014 noted Ethiopia must devaluate its currency in order to boost export because the nation’s export commodities are mostly unprocessed products and they need to stay competitive on price.

The World Bank (WB) disclosed there is a need to strengthen competitiveness in the Ethiopian economy by diversifying and introducing value added export commodities. According to WB, such shall be done in order to tackle the recent problems such as drop in price the export sector is facing.