Scholar Says Removing Bottlenecks, Revising Policies Crucial to Promote Trade and Investment

Addis Ababa February 27/2019 Removing existing bottlenecks and revising trade related policies is necessary to enhance trade and foreign direct investment, a scholar said.

In his presentation to a symposium held at the Addis Chamber International Trade Fair yesterday, Economics Assistant Professor at AAU Atnafu Gebremeskel suggested some mechanisms that may enhance trade balance and promote investment in the country. 

Implementing a strategy geared towards local productivity, revising trade and industrial policies, conducting investigation on the negative and positive impacts emanating from major economic partners of the country, managerial skill transfer, explicit trade policy, and economic liberalization are some of the mechanism proposed by the scholar.

The scholar also pointed out that lack of negotiation, investigation and evaluation skills with trade and development partners are the major challenges in the economic development of the country.

Besides, trade policy and investment negotiations with economic partners of the country are not technically investigated and evaluated with the economic benefits brought for the country.

Addis Ababa Chamber of Commerce and Sectoral Association President, Mesenbet Shenkute said the chamber is working with the government to solve the problems in investment and trade.

She stated that the chamber has recommended that the government amends the trade policy of the country.

According to Mesenbet, the six-day trade fair which was held this week was aimed at enhancing trade and investment for sustainable economic growth.

About 40 foreign companies and 140 domestic firms have reportedly taken part in the trade fair.

---END---