Addis Ababa, August 20, 2024 (FBC) – Agriculture Minister Girma Amente (PhD) highlighted the significance of Ethiopia’s macroeconomic reforms in terms of enhancing FDI, boosting export competitiveness and realizing better business climate for investors.
In his remarks at workshop organized the Embassy of India in Addis Ababa in collaboration with the Ministry of Agriculture focusing on a market study on Export Opportunities for Oil Seeds, Pulses, Cotton, Gemstones and Coffee from Ethiopia to India, the Minister commended Ethiopia’s commitment to ensure conducive climate for investments in the agriculture and other key sectors.
Girma underscored the importance of the new agricultural policy in boosting productivity, improving value chains, and expanding market access for farmers and producers. He noted that Ethiopia has liberalized commodity exports, enabling foreign firms to purchase directly from Ethiopian farmers and processors for distribution to global markets.
“This policy shift aims to strengthen our export sector, particularly concerning oilseeds, pulses, hides, and skins, among other essential products,” the Minister remarked.
The Minister reaffirmed Ethiopia’s commitment to advancing its agricultural sector, focusing on supporting farmers, promoting sustainable practices, and maintaining the highest standards of quality in exports.
He also mentioned that the Ministry of Agriculture is collaborating with the Development Bank of Ethiopia and various stakeholders to enhance financial access for smallholder farmers, thereby boosting productivity and export volume.
Ethiopia is now welcoming companies interested in exporting coffee and other agricultural commodities. Additionally, the Minister stated that the newly launched second phase of macroeconomic reform would further accelerate the nation’s export capacity.
He emphasized the vital role of the private sector in increasing the export volume of pulses and oilseeds to India and other regions worldwide. The Minister concluded by expressing the Ethiopian government’s commitment to strengthening bilateral trade relations with India, acknowledging that Ethiopia’s membership in the BRICS+ will enhance economic collaboration between the two nations.