Business persons, who are engaging in export business, recommended that government should make amendments of polices to boost Ethiopia’s export.
The meeting, which was organized by Addis Abeba Chamber of Commerce and Sectoral Associations (AACCSA), held on Tuesday focused on “Challenges and Prospects of the Export Trade”.
Shortage of finance, absence of modern trading system and dearth of foreign currency are the main dilemma’s raised on the meeting. National Bank of Ethiopia (NBE)’s initiative to take 70% of export earnings posed a threat, according to participant business owners.
Dependence on the imported inputs and lack of import-substitution mechanism are raised as other challenges from the manufacturers’ side.
The government is expected to innovate ways of encouraging the export trade. However, due to its policy failures, the export trade has been lagging behind, according to participants.
Responded to requests of the businesses, Mesenbet Shenkutie, President of AACCSA said the export sub-sector has to be incentivized. In that regard, the Association has put forwarded policy recommendations to be incorporated in fresh trade policy, which is in the process of formulation.