Workshop Discusses Problems in Export Sector

Addis Ababa, December 24 (FBC) – A day-long workshop aimed at identifying bottlenecks in the export sector and maximizing joint efforts to boost export was held here today.

Investors and other stakeholders attended the workshop organized by Ministry of Trade and Industry to identify barriers and hindrances in the export sector.

During the occasion, Trade and Industry State Minister Teka Gebreyes said the export sector is facing critical problems as the performance in the sector is low and stagnant.

Compared to the ambitious plan of the country, remarkable results have to be registered in the manufacturing sector, he noted.

According to him, the country mainly exports agricultural products to Asian countries but not seizing the opportunities in Europe and USA markets.

The export sector cannot be realized only by a single organization, the state minister stated, adding that it rather needs the involvement of many stakeholders.

Inputs obtained from the workshop would be used to enrich and issue a legal document that could scale up export by supplying quality and quantity products, it was learned.

Teka further pointed out that the government has also carried various measures, including the home-grown economy, which is expected to improve export.

Foreign currency allocation, working capital, power fluctuation, logistics, lack of skill and attitude of workforce, and proper provision of incentives are among the challenges that are impeding export.

Participants of the workshop on the occasion emphasized the need for taking immediate action towards quality supply of raw materials through conducting research.

They also called the government to revise voucher system and Value-Added Tax (TAX), including other benefits, that would encourage investors.

Source: ENA