Addis Ababa, April 18, 2024 (FBC) – During its 21st regular session of the third year of tenure today, the House of Peoples’ Representatives of Ethiopia (HoPR) sanctioned bills pertaining to Special Economic Zones proclamation and the amendment of the Intergovernmental Authority on Development (IGAD) establishment agreement.
The Special Economic Zones proclamation bill was referred to the parliament by the Council of Ministers for further consideration during the 25th regular session on October 27, 2023, while the amendment of the IGAD establishing handbook bill was forwarded during the 27th regular session on February 24, 2024.
During today’s session, the HoPR’s the Standing Committees on Industry and Mines, as well as Trade and Tourism, presented a report and recommendations regarding the Special Economic Zones proclamation.
The report highlighted the significant role the bill is expected to play in attracting foreign investment, generating employment opportunities, and encouraging the manufacturing industry. Furthermore, it was elucidated that the bill has the potential to facilitate the acquisition of foreign currency, promote technology transfer, and enhance international competitiveness. The standing committees affirmed that pertinent issues pertaining to the bill have been addressed and enhanced through thorough discussions with relevant stakeholders.
Following extensive deliberations and input from parliamentarians, the House approved the Special Economic Zones bill.
Subsequently, the parliament deliberated on the report and the proposal to amend the Intergovernmental Development Authority (IGAD) establishment agreement.
The Standing Committee on Foreign Relations and Peace Affairs emphasized the longstanding effect of the IGAD establishing handbook since 1996. The amendment to the IGAD establishment agreement, endorsed during the bloc’s summit on June 12, 2023, was deemed crucial in adapting to current regional and global dynamics.
After further deliberations on this agenda, the parliament has approved the bill on the amendment of the IGAD establishing agreement.