The Ministry of Trade and Regional Integration has announced plans to implement a trade policy within the next year. The policy aims to address trade imbalances, strengthen monitoring and enforcement against illegal trade, and create a balanced supply and demand system in the country.
Speaking at a stakeholder consultation forum, Minister of Trade and Regional Integration, Kassahun Gofe (PhD), emphasized the importance of policy and operational support in combating illegal and contraband trade. He stated that the forthcoming trade policy will serve as a practical guide to modernizing Ethiopia’s trade system, ensuring fair practices, and bolstering economic stability.
The Minister highlighted the progress achieved through domestic economic reforms, particularly in reducing illegal trade. Over 108,000 traders engaged in illicit activities have faced enforcement actions in five months. Daily monitoring and control measures are ongoing to deter contraband trade and support law-abiding traders.
The new trade policy is expected to institutionalize these efforts by addressing systemic challenges and fostering stakeholder collaboration. It will prioritize sectors vulnerable to smuggling, such as livestock exports, by enhancing regulatory oversight and promoting structured business operations.
Kenenisa Lemi (PhD), Secretary General of the Ethiopian Chamber of Commerce, stressed the critical role of trade in Ethiopia’s development and the need to combat illegal activities undermining the formal trade system. The council is committed to promoting a healthy trade environment and will work closely with stakeholders to support the implementation of the new trade policy.
Source: Addis Zemen
