News » 22.08.2024 - Ethiopia: 'Macroeconomic reform favourable for fresh produce exports'

The recent macroeconomic reform might significantly enhance the competitiveness of exports and the growth of the horticultural industry, according to grower exporters of cut flowers, vegetables, and fruit in Ethiopia.

The exporter, Tsegaye Abebe, who has been engaged in horticulture for the past 28 years, noted that the sector has huge potential in job creation and foreign exchange earnings.

Among the bottlenecks of the sector has been foreign exchange, he said, adding that the recently announced macroeconomic policy reform is instrumental in enhancing the earnings from the sector and elevating competitiveness.

The National Bank of Ethiopia noted recently that the reform introduces a competitive, market-based determination of the exchange rate and addresses the long-standing distortion within the Ethiopian economy. Executive Director of the Ethiopian Horticulture Producer Exporters Association, Tewodros Zewdie commended the initiative taken by the government to encourage trade and investment.

 

Source: www.ena.et

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