A bill that subsidizes local producers and levies tariffs on imported goods that have domestic alternatives is put forth by the Ministry of Trade & Regional Integration (MoTRI). Officials hope to calibrate economic liberalisation while maintaining the development of domestic producers and traders with efforts underway to join the African Continental Free Trade Area (AfCFTA).

The absence of trade policy and constant alterations in the law had stakeholders struggle to buildup trust, while underdeveloped logistics infrastructure and weak industry linkages hampered the development of local trade.

According to Destaw Mequanent (PhD), Ministry's policy & strategy research executive, they hope the bill will garner trust between authorities and industry players while integrating the service outlets to facilitate a swift operation. He indicated that the policy will serve as a benchmark for negotiations in international trade treaties guiding duty-free entries and local value chains.

"Improving the efficiency of cross-border transport is essential," he said.

Officials at the Ministry envision digitising customs, tax and licensing authorities will simplify the bureaucratic framework. Destaw recognizes the necessity of a careful balance between trade liberalisation to international business and protecting domestic traders already teetering on the verge of collapse.

"Foresight in policy is critical with the inevitable and gradual opening up of the economy," he said.

Data from the United Nations Conference on Trade & Development (UNCTAD) indicates that more than 90pc of African countries depend on trade that requires little to no value addition. The sale of primary commodities in agriculture, mining and livestock characterizes a significant portion of the continental economy.

The Ministry's Advisor and Former Export Director, Mesfin Abebe, observes that the high volume of informal participants in the country's trade practices has curtailed its growth. He reasoned that in healthy international markets, a rise in production usually results in decreased prices; in contrast, Ethiopian trade is marked by sustained price increments regardless of production.

The Advisor believes that the new policy will provide fair, transparent, competitive trade for local producers while enhancing appeal from foreign buyers.

Several experts have cited continental free trade as holding the promise of growth and greater trade volume for the continent, with many of the countries beginning to trade two years ago.