Capital Gears Up for AU Summit

Feb 4 , 2023


[ssba-buttons]

African Union Summit will unfold in the capital from February 15-19, 2023. Three sessions of the AU Assembly and Executive Council are scheduled to endorse policies through a round of discussion for five days. Dubbed "Acceleration of AfCFTA Implementation", the session will begin with Permanent Representatives' committee meetings and continues to the Executive Council Ministry of Foreign Affairs. The intra-African trade agreement was established in 2018 with the goal of deepening trade ties between African countries by removing tariff and non-tariff barriers. Under the AfCFTA, Africa's expanded goods and labour markets will become more efficient, driving significant competition between the countries, according to a study conducted by the IMF. The National Committee, established to oversee preparations, discussed with representatives of the hotel and tourism sectors.  In the discussion, Birtukan Ayano, state minister for Foreign Affairs said the tourism industry players are essential to make Ethiopia a top conference tourism destination by offering excellent services to AU summit participants. The Minister of State for Tourism, Selamawit Dawit, said the upcoming conference is an opportunity to showcase the country's potential in the field of conference tourism, stating that the Ministry has prepared tour programs for the guests.


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...