FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo

Oversight Committee Eyes Regulatory Tweaks Amid Export Slump

Apr 18 , 2024

The federal government announced the formation of a technical committee tasked with overseeing the engagement of foreign investors in the retail, wholesale, import, and export sectors. The authorities attributed the decision to a comprehensive yearlong study revealing a consistent underperformance in exports, with merchandise export revenues declining for two consecutive years. The latest report from the Ministry of Trade & Regional Integration (MoTRI) shows a 7.5pc year-on-year drop over the past nine months.

Hanna Arayaselassie, the recently appointed Commissioner of the Ethiopian Investment Commission (EIC), made the announcement today of forming the technical committee.

Speaking at the Commission's headquarters on Africa Avenue (Bole Road), and flanked by State Minister for Trade & Regional Integration, Endalew Mekonen, Hanna detailed its mandate.

The new body will include officials from her Commission, the Ethiopian Customs Commission, MoTRI, the National Bank of Ethiopia, and the ministries of Revenues and Industry. The committee is charged with setting minimum export prices, conducting international market studies, and ensuring fair competition. It will report to the Ethiopian Investment Board, led by Prime Minister Abiy Ahmed (PhD).

Addressing potential regulatory changes, Commissioner Hanna hinted at a revision to the foreign currency retention procedures.

"It'll be maintained for now," she told Fortune, suggesting that adjustments might be considered after a careful assessment of the macroeconomic environment.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Global Trade Is Winning Trump's War On It

Nearly six months after US President Donald Trump announced his ultra-high "reciproca...

Scaling Back Anti-Poverty Programmes a Colossal Policy Mistake

Faced with a slowing global economy and rising debts, many developing-country governm...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

In Climate Talks, Africa Mortgages Tomorrow Simply to Survive Today

Sep 13 , 2025

At its launch in Nairobi two years ago, the Africa Climate Summit was billed as the f...

Ethiopians Celebrate Big Dreams, While Everyday Realities Cast Shadow

Sep 6 , 2025

The dawn of a new year is more than a simple turning of the calendar. It is a moment...

Will Community Health Insurance Falter Under Its Ambitious Weight?

Aug 30 , 2025

For Germans, Otto von Bismarck is first remembered as the architect of a unified nati...

The Capital Market May Be Too Shallow to Swim In. Beware.

Aug 23 , 2025

Banks have a new obsession. After decades chasing deposits and, more recently, digita...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

The Horizon Ahead

Every Meskerem, as the Ethiopian New Year arrives, the script seems eerily familiar. We rewind the reel of the past twelve months, tot up th...

Beacon of Hope in the Heart of Singapore

When friends of my husband, Mike, and I left for what should have been a routine work trip to Malaysia, n...

Life Matters

Once a Song, Now a Powerhouse, The GERD Arrives

For generations, the dream of harnessing the Abay River has echoed across Ethiopia. It has been spoken of...

A Dose Too Fast

Stories of medical malpractice are unsettling, but they become harrowing when lived personally. What began for me as a trivial blister soon...