Despite Limitations Ethiopia Ramps Up Efforts to Join World Trade Organization


Despite Limitations Ethiopia Ramps Up Efforts to Join World Trade Organization

Having remained on the periphery of the World Trade Organization (WTO) for many years, Ethiopia is scaling up efforts for accession. Although ratifying the agreement to establish the African Continental Free Trade Area (AfCFTA), neither the negotiations to join the WTO nor the efforts to implement the AfCFTA Agreement have been yielding visible results. While the government amplifies efforts to be included in international trade organizations, issues regarding the technical capabilities have been raised by some. Stephen Karingi, director at the Economic Commission for Africa (ECA) said despite the appeal of expanding global trade, growing the implementation capacity of trade agreements should also garner attention. Melaku Ezezew, president of the Ethiopian Chamber of Commerce & Sectoral Association, disclosed the private sector's lack of access to finance, weak competition regulatory regime and inadequate institutional coordination hurt the trade competitiveness. ECA has fostered industrialization and sustained economic growth, authorising the Amharic translation of the continental agreement on the African Continental Free Trade Area (AfCFTA), where non-English speakers can access the translation and benefit from the opportunities it provides. Three weeks ago, the British Embassy in Addis Abeba held a round table panel discussion on Ethiopian Trade Policy partnering with ECA. Speaking at the panel, Kassahun Gofe, state minister for Trade & Regional Integration, said advancing the WTO and AfCFTA accord is a key tool in the consolidation of domestic economic reforms. He believes AfCFTA steers a new era of trade for structural reforms in Africa.

[ssba-buttons]

Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...