Enhancing Capacity of Industries Prioritized to Improve Foreign Trade Performance

Enhancing capacity of industries that settled at existing industrial parks is important to improve the performance of the foreign trade, the National Plan Commission said.

 Despite better performance in the overall economic growth, the country's foreign trade has shown poor performance over the first two years of the second Growth and Transformation Plan (GTP-II) period.

To improve the performance in the area, ongoing activities in the development of industrial parks as well as enable industries to be fully operational will be continued, the Commissioner Yenager Dessie told ENA.

Efforts to enable companies that settle at industrial parks execute their operations as per the demands of the country will be conducted in the current fiscal year.

Yenager noted that the performance of the foreign trade is expected to be improved with the continued development of more industrial parks and  full  operational  of industries.

In the first year of the GTP-II period, a total of 2.856 billion USD, from the planned 4.22 billion USD was earned from foreign trade.

Though the plan was to earn close to three billion USD from agricultural products, only 2.1 billion USD was managed to be secured.

Of the total 916.8 million  USD revenue planned to be earned from the export of manufacturing, 413 million USD or less than half was obtained.

 Ethiopia has been working to improve its foreign currency earnings through various means. The development of industrial parks that are attracting many global anchor companies is among the mechanisms.

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