Ethiopia Shifts Gear for Accession to World Trade Organization


Ethiopia Shifts Gear for Accession to World Trade Organization

Rebecca Fisher Lamb, ambassador to the Economic Agencies in Geneva and deputy Perm Rep to the World Trade Organization was appointed the previous week to chair the working party that reviews Ethiopia's accession process to the full membership of the World Trade Organisation (WTO). The Organization founded in 1995 to serve as a forum for establishing trade agreements, resolving trade disputes and liberalising global trade, currently has 25 countries under the observatory status. Following a nearly three-decade status as an observatory, Ethiopia has kicked up its efforts this year to gain membership in WTO, the largest trade organization consisting of 164 members with the latest entrant being Afghanistan in 2016. The accession process commences with the submission of a formal written request for accession by the applicant government. This request is considered by the General Council which establishes a working party, open to all members of WTO, to examine the accession request and submit the findings to the General Council for approval.

[ssba-buttons]

Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...