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Ethiopia reduced duties on imported materials for the textile and garment sector according to Sufian Ahmed, Minister for Finance and Economic Development.

The decision was made a meeting arranged between Sufian, and Mekonnen Manyazewal, Minister for Industry as well as senior representatives of the Ethiopian Revenues and Customs Authority, the Textile Development Institute and the Ethiopian Textile and Garment Association

Duties on imported textiles were reduced to 20 percent from 35 percent for garment manufacturers while no duties will be suspended for all imported spare parts required by textile and garment manufacturers.

Ethiopian government is reevaluating its ban on private Palm Oil importing companies that has been in place since May 2011, Addis Fortune reported.

As Ethiopian coffee continues to dominate world markets, the government is now putting in place a new reformed policy in place to create more opportunities for farmers, suppliers and exporters in the industry, so they can benefit from direct market chain.

Planning and Development Commission announced that Ethiopia had registered a 7.7 % Gross Domestic Product growth in the 2017/2018 fiscal year. The commission stated that the growth did not meet the planned achievement which was 11%.

Ethiopia earned USD 976 million from exports during the first quarter of the 2022/2023 fiscal year. The achievement was presented by the Ministry of Planning and Development during a review of the performance of the main macro-economic sectors of the country in Gondar.