Addis Ababa - Ethiopia is working towards becoming a member of the World Trade Organization (WTO) within the next three years, according to the Ministry of Trade and Regional Integration.
In a press statement today, Minister of Trade and Regional Integration Gebremeskel Chala said Ethiopia has responded to 900 questions posed by 164 WTO member states during four previous rounds of accession negotiations.
The questions covered areas such as goods and services trade, licensing procedures, government and business institutions, among others.
A study answering questions for the fifth round of negotiations has now been completed and is under review by the national committee leading the WTO accession effort.
By opening up various economic sectors to foreign investors, Ethiopia's policy reforms have aided the negotiation process.
WTO membership is expected to further boost competitiveness and growth opportunities, according to the Ethiopian Investment Commission.
Ethiopia started WTO accession talks as an observer member in 2003.
Negotiations were stalled for the last three years due to the COVID-19 pandemic and other issues.
Once concluded, Ethiopia would join the WTO as its 164th member state. Officials are optimistic this can be achieved within three years.