26 February 2024
Addis Ababa, Ethiopia – Ethiopia is on the cusp of joining the African Continental Free Trade Area (AfCFTA), a major step towards enhanced economic integration and growth across the continent. The country recently submitted its tariff schedule lines to the AfCFTA secretariat, paving the way for its official membership.
“This is significant progress,” said Melaku, a trade expert. “While some non-tariff barriers may still need to be addressed, the AfCFTA presents immense opportunities for Ethiopia and all African economies.”
Ethiopia is expected to join the nine countries already actively trading under the AfCFTA framework. However, a few key steps remain before full implementation.
The official tariff lines must be published in the Negarit Gazette, and the government needs to determine the institutional framework for managing AfCFTA participation.
“The Council of Ministers has already ratified the AfCFTA,” explained Melaku. “Now, the decision lies with the government regarding whether to establish a new institution for implementation or leverage existing structures within the Ministry of Trade and Regional Integration.”
Experts like Melaku believe utilizing existing ministry resources could streamline the process, allowing Ethiopia to capitalize on the AfCFTA’s potential sooner. The agreement aims to create a single African market of over 1.3 billion people, fostering increased trade, investment, and job creation across the continent.
Ethiopia’s participation in the AfCFTA signifies its commitment to regional economic integration and its pursuit of a more vibrant and interconnected African market.
