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The Ethiopian Standard Agency announced that it has approved 794 new and revised standards. 13 out of the total number of standards approved by the agency are intended to enforce standards for canal pumps while others are designed to regulate the construction, and textile sectors said Daniel Zenebe, Head of Communications and Public Relations with the agency.

The Ethiopian Standards Agency replaced the former Quality and Standard Authority of Ethiopia when it was officially recognized by the Ethiopian government as the national body for standards.  It performs the role of the Ethiopian Standards body for the Ethiopian government.

The House of People’s Representatives, during its 11th regular session, reviewed and approved the National Bank Proclamation and the Banking Proclamation, paving the way for foreign banks to operate in Ethiopia.

The National Standards Council of Ethiopia approved 536 additional standards on goods and services. The new standards are part of the national strategic goals explained Legesse Genre, Director of the Ethiopian Standards Agency.

The standards for cement, fertilizers, metal products, health care equipment, pumps, leather and leather products were approved by the NSC. Twelve health care facility standards are compulsory out of the total of 536 standards.

House of Peoples Representatives (HPR) has approved on December 8, 2015, loan agreements with the International Development Association (IDA), the government of Italy and Agence Francaise de Development (AFD), Ethiopian News Agency reported.

The Ethiopian Investment Commission (EIC) said it has plans to attract more Turkish investors in the government’s priority areas.