- A consultative meeting was held between stakeholders to discuss the strategy to boost Ethiopia’s export revenues.
- The meeting was initiated by Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) the apex industry body of Ethiopia representing more than 60 percent of business in the country.
A consultative meeting was held between stakeholders to discuss the strategy to boost Ethiopia’s export revenues. The meeting was initiated by Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) the apex industry body of Ethiopia representing more than 60 percent of business in the country. The meeting assessed the challenges and opportunities of Ethiopia’s export sector. It was felt that there was an urgent need for comprehensive efforts to enhance export earnings.
President of Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) Mesenbet Shenkute said that enhancing productivity as well as diversification of export items should be prioritised. She called for measures to improve the global competitiveness of the local exporters.
The challenges for export expansion included lack of market linkage, inadequate access to information, digital market, low quality and lack of diversification. Despite going through difficult political challenges, the country has registered 3.6 billion USD revenue. But Ethiopia has a widening trade deficit. Its import bill stood at $16 billion. AACCSA Acting Secretary General, Shibeshi Betemariam remarked that the share of global trade to GDP has declined since 2019. The main barrier to export expansion it was observed was lack of diversification. A handful of products, mainly coffee, oilseeds, leather and pulses account about 59 percent of the country’s export. Similarly, the export destinations are also restricted. A third of Ethiopia’s export goes to Asia. The opportunities within the continent it is felt should be explored.
