The Minister of Trade and Regional Integration, Dr. Kassahun Gofe, stated that the reform government has been able to improve the inflation rate by establishing an efficient trade system and implementing a supply-oriented operational reform.
Regarding Ethiopia's import and export trade activities and other current issues, the Minister explained that the reform approach views the social, economic, and political sectors of the past not with blind adherence but with an understanding of both its strengths and weaknesses.
He noted that challenges and opportunities in the domestic and foreign trade sectors, as well as in the quality assurance process, have been examined.
Emphasizing that correcting mistakes and enhancing strengths are the foundations of the reform to realize a prosperous Ethiopia, he stated that significant capacity has been built in problem-solving by improving export diversification and competitiveness.
He pointed out that prior to the reform, Ethiopia's trade facilitation was at a low level. However, he added that progress has been made in creating a more conducive environment for starting businesses, as evidenced by the results achieved.
The minister mentioned that substantial improvements have been made in modernizing Ethiopia's trade system, including successes in shortening the process for issuing trade licenses.
He also highlighted the development of an enhanced online trade license registration system application, enabling users to access services conveniently from their homes.
Consequently, he noted that the national reform has facilitated the creation of a favorable business environment and the provision of streamlined services to the business community.
Dr. Kassahun stated that numerous efforts have been undertaken to improve the supply of essential consumer goods and other products to mitigate the high cost of living.
He specifically mentioned that the Ye Lemat Trufat (Bounty of the Basket) program, initiated under the visionary leadership of Prime Minister Dr. Abiy Ahmed, has played a significant role in improving product supply by boosting urban agricultural production and productivity.
Beyond increasing the supply of goods, he noted that strong regulatory measures have been implemented over the business community to control unwarranted price hikes.
As a result of these efforts, he concluded that Ethiopia's inflation rate has been comparatively better than that of other countries, ENA reported.