Ethiopia is ready to ratify the African Continental Free Trade Agreement, Prime Minister Abiy Ahmed said.
The Premier during his opening remark at Conference of African Finance, Planning and Economic Development, noted that the theme “African Continental Free Trade Area: Creating Fiscal Space for Jobs and Economic Diversification” is timely and of considerable value to each African country.
“Ethiopia is fully aware of the opportunities that the free trade agreement offers and is ready to follow Rwanda and Ghana for their pioneering role in the ratification of the agreement,” he said.
Abiy urged all African countries to do the same in order to ensure that it can come into force soon.
According to him, Ethiopia has been engaged in ambitious programs of upgrading infrastructure, building industrial parks, and formulating policies and strategies to support industrialization.
“Our efforts have led to meaningful improvements in Foreign Direct Investment to a significant part because we have established an increasingly more business friendly Ethiopia,” Abiy pointed out.
The efforts have also yielded tangible results as evidenced in the growing share of the industrial sector in its contribution to the economy.
Prime Minister Abiy emphasized that “the African Free Trade Agreement should be shaped and implemented so as to enable Africa to create opportunities for its citizens to spur our industrialization agenda, to ensure inclusive development for all Africans and particularly women and the youth.”
The one and half day conference will deliberate on African Continental Free Trade Area, implementation of free trade by the private sector, creating fiscal space and financial stability. (ENA)