@WTO – Ethiopian Business Review

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Ethiopia has established 374 additional weekend markets over the past nine months, bringing the total number of operational Saturday and Sunday markets across the country to 1,434. The expansion aims to improve access to goods, stabilize consumer prices, and stimulate local economies through more inclusive trade platforms.

The milestone was revealed during a high-level national macroeconomic and sectoral performance review convened this morning by the Ministry of Trade and Regional Integration. Minister Kassahun Gofe led the session alongside Dr. Belete Molla, Minister of Innovation and Technology. The forum engaged ministry staff and stakeholders in a joint assessment of progress made in the 2017 Ethiopian fiscal year.

The review highlighted major achievements beyond market expansions. Over 2.6 million online business registrations and licenses were processed—marking a 102% achievement against the ministry’s plan. This surge in digital registration reflects the government’s commitment to simplifying and modernizing business procedures.

In a historic first, Ethiopia’s export revenues have surpassed USD 5.3 billion within the same nine-month period—making it the highest figure recorded in the country’s export trade history. The Ministry has set an ambitious target to reach USD 7 billion by the end of the fiscal year.

Efforts in regulating the petroleum sector were also cited as a key success. The ministry noted improved oversight in oil marketing and pricing mechanisms, contributing to better supply stability.

“These achievements are a reflection of the enabling environment created by ongoing macroeconomic reforms,” Minister Kassahun said, crediting institutional collaboration and reform-driven momentum for the performance surge.

The report paints a picture of a country intensifying its trade efforts through local innovation, regulatory improvement, and global engagement—laying the groundwork for more integrated and competitive economic growth.

The Commercial Bank of Ethiopia (CBE), in collaboration with global payment leader MasterCard, has introduced both plastic and virtual international prepaid cards, a move set to enhance digital payment accessibility in Ethiopia.

The launch, officiated by CBE President Abe Sano and MasterCard Africa President Mark Elliott, marks a major step toward modernizing Ethiopia’s financial ecosystem. These prepaid cards will enable users to conduct international transactions with greater convenience, supporting online purchases, travel expenses, and cross-border payments.

CBE officials emphasized that the initiative aligns with the bank’s ongoing efforts to expand digital financial services and provide customers with secure, flexible, and globally accepted payment solutions. The virtual card, in particular, is expected to cater to the rising demand for secure online transactions, while the plastic version offers a physical alternative for international spending.

Ethiopia’s negotiating team has returned from the 5th Working Group Meeting for WTO Membership in Geneva, Switzerland, after securing significant progress in the country’s long-awaited bid to join the global trade body. Minister of Trade and Regional Integration, Dr. Kassahun Gofe, addressed the media in a press conference today, highlighting the fruitful outcomes of the meeting.

Dr. Gofe emphasized that Ethiopia’s successful participation was the result of thorough preparation, recognizing the hard work required for WTO negotiations. At the meeting, Ethiopia received support from 19 countries, signaling increasing global confidence in the country’s reform efforts. “We have not only created a platform to achieve WTO membership in a short time, but we’ve also earned the trust of the organization’s members,” Dr. Gofe stated.

The Minister also explained that Ethiopia’s lengthy application process, which has taken over two decades, was due to the country’s previous “very protectionist” economic policies. “You can’t access WTO membership by closing the economy to foreign players,” he said. Dr. Gofe highlighted that the ongoing economic reforms in Ethiopia, which have opened the country up to foreign investment and trade, are pivotal to securing membership.

Looking ahead, Dr. Gofe emphasized the national benefits that WTO membership will bring. While there may be some initial impact on government revenue, he assured that it would not harm the economy. “Beyond this, it will expand the market for Ethiopia’s products,” he said, reinforcing the long-term advantages of global trade integration. He confirmed that the country is working toward full membership at the WTO Ministerial Conference in Cameroon in 2026, with the 6th Working Group Meeting set for July.

374 New Weekend Markets Launched, Total Reaches 1,434 Nationwide

CBE and MasterCard Launch International Prepaid Cards

Ethiopia’s WTO Membership Bid Gains Momentum with Support from 19 Countries