Ministry streamlines policies to bolster commerce

Ministry of Trade and Regional Integration announces that it is engaging on developing different policies and laws to harmonize the trading scheme. The first trade policy tables for discussion on the way to be ratified by the cabinet.
Experts argue that lack of attention for the trade sector is one the problems seen in the market. They stated that it is embattled by market chain, inflation, hording and international trade and completion and standards because of lack of proper understanding and attention given by the government body.
Despite efforts by relevant government apparatuses to tackles challenges, in the local market, hoarding, smuggling, overstating price increases, and uncontrollable and lack of adequate supply in terms of goods and services have been major problems over the past several years. The Ministry has attempted to come up with solutions by imposing laws and controlling mechanisms to smash illegality and or supply products on its own but things have not improved.
For international trade; contraband, contract defaults, artificial rates and weak export earnings have been major challenges.
As part of its efforts, the government has been taking different initiatives and drafting guidelines, policy and other legal rules to govern the sector in a holistic approach.
One of that is drafting the first national trade policy for the country which recently, Gebremeskel Chala, Minister of Trade and Regional Integration (MoTRI) stated it is on the final stage of realization.
The policy that would give a clear picture for the commerce has been tabled to be discussed with stakeholders to get feedback before it’s sent to the Council of Ministers for ratification. “We hope in the near future it will be ratified,” the Minister said.
Similar to the trade policy, MoTRI is also developing a national quality policy that may contribute to expand the local and international.
Ethiopia has formed relevant National Quality Infrastructure (NQI) agencies but it does not have a policy framework that shall lead the agencies.
The government aimed that the policy shall abide by legal framework that allows the country to be competitive, and will allow Ethiopia to develop required legal frameworks under the goal of the policy.
Gebremeskel said that the quality policy will be discussed with relevant stakeholders before it is sent to the cabinet.
As part of massive efforts to improve the commerce, MoTRI has also revised the national legal metrology regulation, which is a five decade old directive.