Ethiopia has been officially added to China’s list of approved soybean exporters, a move that deepens bilateral trade and investment ties between the two countries. Announced by China Customs and reported by News Central, the decision grants Ethiopian soybeans access to the world’s largest soybean market.
The Ministry of Trade and Regional Integration (MoTRI) has recently announced that the country has generated USD 1.53 billion in revenue from agricultural, manufacturing, and mining exports.This amount represents a substantial portion of the targeted $2.39 billion earnings within a six-month period.
The Ministry of Trade and Regional Integration announced that Ethiopia was able to gain USD 1.75 billion from exports during the first half of the 2022/2023 fiscal year.
The Ministry of Agriculture announced earnings of USD 2.2 million from 800 tons of cotton produced in the past nine months. While this demonstrates potential, researchers warn that Ethiopia utilizes only a fraction of its suitable land for cotton cultivation.
The Ministry of Mines has announced that the earnings from exported minerals totaled USD 226.8 million in the 2022/23 fiscal year. The Ministry also reviewed its performance during the year, highlighting that a total of Birr 896.8 million was granted to both domestic and foreign developers engaged in mineral exploration, production, and processing.
