By Eyasu Zekarias
Ethiopian exporters across various sectors are exhibiting low awareness of international trade practices, according to a recent announcement from the Ethiopian Pulses, Oilseeds and Spices Processors Exporters Association (EPOSPEA). Edao Abdi, the board president of EPOSPEA, emphasized the urgent need for qualified personnel to navigate the global business landscape effectively.
During a discussion focused on foreign exchange policy reforms impacting the trade of pulses, spices, and oilseeds, Abdi noted that there have been numerous complaints from recipient countries regarding the lack of trade facilitation. He highlighted challenges faced by exporters, including difficulties in locating addresses after products have been shipped.
In response to these issues, Yasmin Wahab, Minister of State for Trade and Regional Integration, addressed the meeting, outlining various policy reforms aimed at boosting the export of pulses, oilseeds, and spices while increasing foreign exchange revenue. Yasmin stated that the reforms are designed to attract foreign investors and integrate them with local businesses, thereby addressing challenges related to technology transfer and enhancing market competitiveness.
The recent macroeconomic reforms introduced by the government are expected to bolster agricultural production and productivity, as well as alleviate the current shortage of foreign exchange through increased exports. The forum set a target of generating approximately $7 million from the pulses, oilseeds, and spices sector in the fiscal year 2024/25.
Participants at the forum were urged to abandon outdated practices in order to adapt to the challenges posed by the new macroeconomic reform policies. The emphasis on training and equipping exporters with the necessary skills and knowledge is seen as crucial for improving Ethiopia’s position in the international market.
As Ethiopia seeks to enhance its export capabilities, the call for greater awareness and understanding of international trade dynamics remains a pressing concern for industry stakeholders.