Addis Ababa, April 21, 2025 (ENA) --- The Ethiopia Tamrit (MadeInEthiopia) movement has enabled the country to increase the quality and competitiveness of products, Minister of Industry Melaku Alebel told ENA. The movement was launched by Prime Minister Abiy Ahmed in 2022, with the aim of realizing a competitive manufacturing industry by solving the bottlenecks in the sector.   The movement is playing a crucial role in substituting imported products in addition to enabling the production of various products. Minister Melaku indicated that since the official launch of ‘MadeInEthiopia’ movement, numerous of remarkable achievements have been registered during the past years in the sector. Stating that the movement has played a major role for products to find market which had not been possible before, creating linkages, he pointed out that the type, quality and competitiveness of the production of products have been increasing over the past three years.   Melaku further underscored that the government has addressed the challenges related to coordination in the sector by giving a special attention to manufacturing sector. As a result, investors are engaged in productive manufacturing, he said. Noting that various endeavors are being carried out to make ‘MadeInEthiopia’ movement more productive, he added the establishment of a Manufacturing Council and its operation as an example.

Addis Ababa, April 21, 2025 (ENA) ---- Speaking to ENA, Ethiopian Investment Commission Commissioner Zeleke Temesgen highlighted that Ethiopia has been undergoing a substantial reform process over the past seven years, achieving commendable results. The Commissioner stated that during these reform years, sectors previously closed to foreign investors have been opened. He further noted that the economic reform has brought about improvements capable of bolstering investment. Commissioner Zeleke pointed to the measures taken in revising the investment law, emphasizing that these steps have unlocked sectors that were previously off-limits to foreign investors. He mentioned that the Ethiopian Investment Board has permitted foreign companies to engage in wholesale, retail, import, and export trade activities. The government's decision to open investment sectors that had been closed to foreign companies for extended periods, such as Ethio Telecom and the Special Economic Zone Proclamation, is supporting investment and attracting a large number of foreign investors, he elaborated. The Commissioner indicated that the Investment Commission has demonstrated strong performance over the past nine months, citing the attraction of foreign direct investment (FDI) which has shown a 2.4 percent growth compared to the previous year. In light of the ongoing reforms and considering Ethiopia's inherent potential, Commissioner Zeleke emphasized the need for further progress. He noted that following the opening of wholesale, retail, import, and export trade, investment licenses have been granted to 40 foreign investors, with applications from an additional 36 investors currently under process. He also stated that the Ethiopian Investment Board holds the authority to transition all industrial parks in Ethiopia into special economic zones. Furthermore, the Commissioner mentioned that since the Dire Dawa Free Trade Zone was inaugurated by Prime Minister Abiy Ahmed and commenced operations, the Investment Commission has been actively facilitating the entry of investors into the zone. He added that 11 investors have already entered the free trade zone, with some already importing goods. Ethiopia has become a leading hub for foreign direct investment (FDI) following the establishment of Industrial Parks in 2008 and the implementation of Special Economic Zones. Commissioner Zeleke concluded by stating that the government's reform carried out on previously closed financial, telecommunications, and trade sectors is enabling significant progress to be registered.

Addis Ababa, April 21, 2025 (ENA) --- The African Union Commission (AUC) is set to host a three-day Debt Conference in Togo from May 12-14 to shape sustainable financial futures of the continent. The continental conference, that will be held under the theme: “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability, “ is organized by African Union Commission’s Department for Economic Development, Tourism, Trade, Industry, and Minerals. This conference will convene AU Member States, policymakers, financial experts, and key stakeholders, including representatives from Ministries of Finance, African Central Banks, Regional Economic Communities, African Multilateral Financial Institutions, and Civil Society Organizations. The Conference will focus on various key issues including facilitate knowledge exchange and share cutting-edge practices in debt management in African Union Member States. Formulating a position on the needed reforms to the current global financial architecture to address the current debt crisis on the continent is the other critical objective of the conference. The conference will also attempt to formulate innovative debt financing mechanisms for securing new financing while maintaining debt sustainability while exploring and recommending sound debt management practices needed to restore and safeguard public debt sustainability in Africa.

Addis Ababa, April 21, 2025 (ENA) -- Ethiopia, through aligning its agriculture strategies with the Comprehensive African Agriculture Development Program (CAADP), continues to champion, Advisor to the Minister of Agriculture and CAADP Focal Person Zena Habtewold said. The Comprehensive African Agricultural Development Program (CAADP), is an Agenda 2063 continental initiative that aims to help African countries eliminate hunger and reduce poverty by raising economic growth through agriculture-led development. IGAD member states periodically assess their agricultural development implementation through the African Union's CAADP framework every two years. Prior to submitting their reports to the program, these nations convene national dialogue platforms involving relevant stakeholders to evaluate their respective progress. In this context, Ethiopia has recently undertaken a thorough review of its agricultural development achievements. The Intergovernmental Authority on Development (IGAD) organized a program for national dialogue on CAADP today in Addis Ababa.   Advisor to the Minister of Agriculture and CAADP Focal Person Zena Habtewold said that improving agricultural production and productivity, environmental protection through the Green Legacy Initiative are key achievements registered in Ethiopia. “In the past years Ethiopia has critically improved the production and productivity of crops and livestock; especially wheat. Ethiopia has already substituted wheat import starting from 2022 and largely improved the livestock production and productivity by implementing the bounty of basket in initiative,” he noted. Ethiopia has been at the forefront of environmental protection; particularly with the successful implementation of the Green Legacy initiative, he stated, and added that other countries are replicating the successful achievement of Ethiopia. The Advisor emphasized that Ethiopia is thriving to ensure food security and the results gained over the past years are encouraging. “With regard to climate change, the Green Legacy has contributed a lot. Currently, the forest coverage has increased to over 23 percent from 17 percent and this exemplary for Africa,” he stated. CAADP supports countries to enhance resilience to climate variability through development of disaster preparedness policies and strategies, early warning response systems and social safety nets. IGAD Food System Resilience Project Coordinator, Senait Regassa stated that support is being intensified to enhance the effectiveness of IGAD member states' efforts in building climate-resilient agricultural systems. She explained that the program provides technical assistance in areas such as boosting production and productivity, establishing market linkages, shaping impactful agricultural policies, and fostering well-organized information management systems.   Senait also underscored the commitment to further strengthen initiatives aimed at modernizing agriculture and integrating technological advancements. Acknowledging the natural and human-induced challenges facing the region, she specifically pointed out the adverse impacts of climate change on agriculture. According to Senait, despite the minimal contribution of the region's countries to climate change, they bear the brunt of its consequences. She lauded Ethiopia's Green Legacy Initiative as an exemplary approach to tackling this challenge, worthy of emulation by others. The forum also emphasized the ongoing commitment to bolstering agricultural investments in Ethiopia, ensuring the continuation and intensification of existing initiatives.

Addis Ababa, April 21, 2025 (ENA) -- Ambassador Feseha Shawel has Invited foreign investors to Engage in Ethiopia's Healthcare and Medical Tourism Sector. On the Asian Business and Social Forum, Ambassador Feseha Shawel highlighted Ethiopia's position as the third- international diplomatic hub and a gateway to Africa, noting the country's efforts to open up all its sectors to foreign investors, according to Ethiopian Embassy in New Delhi, India. He asserted that these initiatives would catalyze foreign direct investment, particularly in healthcare and medical tourism, positioning Ethiopia as a prime destination for Africans seeking medical services.   The forum brought together a diverse group of stakeholders, investors, diplomats, think tanks, and influential public figures from Asia, America, and Africa to discuss on shaping the global business landscape. The forum addressed various critical issues, focusing on creating sustainable wealth for individuals and institutions, technological advancements and artificial intelligence, climate change and energy transition. After the event, Ambassador Fiseha Shawel was recognized for his significant contributions, underscoring his commitment to fostering international collaboration and investment in Ethiopia.

Addis Ababa, April 21, 2025 (ENA)-- Ethiopian Airline announced today that its operations to Akanu Ibiam International Airport, Enugu, are suspended until 06 May, 2025 due to runway rehabilitation work being carried out by the airport authorities. The Airlines has apologized customers for the inconvenience this may cause. “We sincerely apologize for the inconvenience this may cause and kindly ask for your understanding as the works are carried out to ensure improved safety and service,” the Airlines said in a statement. It has also informed customers requiring assistance with their bookings to contact: -Ethiopian Airlines Global Customer Interaction Center at +251 116 179 900 -Ethiopian Airlines Enugu Office at +2347033745716, +2349033265850 Or reach out to your convenient travel agent.

Addis Ababa, April 20, 2025 (ENA) ---- Addressing the G20 High-Level Meeting on the African Continental Free Trade Area (AfCFTA) and pharmaceutical industrialization, Nardos Bekele-Thomas, CEO of AUDA-NEPAD emphasized the potential of the AfCFTA to serve as a cornerstone for building a robust pharmaceutical industry in Africa. Her remarks painted a vivid picture of both the urgency and opportunity facing Africa amidst a shifting global landscape. She declared, “The era of business as usual cannot continue. Development must be reimagined, rooted in self-reliance, economic sovereignty, and transformative investments.” The CEO called for a unified health ecosystem, addressing inefficiencies in procurement and regulation to meet the continent’s healthcare needs. Despite the challenges, she celebrated Africa’s resilience and innovation citing the continent’s response to the COVID-19 pandemic as a testament to its collective strength. From drone delivery systems in Rwanda to expanding telemedicine in Kenya, Africa has demonstrated its capability to address local health needs creatively. AUDA-NEPAD’s Southern Africa Network for Biosciences (SANBio) has been pivotal in advancing natural African traditional medicine. Collaborative efforts between universities, science councils, and pharmaceutical companies have already led to significant developments. In her address, Nardos outlined AUDA-NEPAD’s strategy to industrialise Africa’s pharmaceutical sector. This agenda extends beyond medicine production, aiming to create a continental economy rooted in dignity, resilience, and justice. Key initiatives include the 24 Priority Medical Products Initiative, which focuses on scaling up domestic production of critical medicines, and the African Medicines Regulatory Harmonization Programme (AMRH), which has streamlined regulatory processes to enable cross-border trade under AfCFTA. Nardos also highlighted the Programme for Investment and Financing in Africa’s Health Sector (PIFAH), aimed at mobilizing resources, fostering innovation, and advancing African-led medical discoveries. “Africa cannot produce at scale if buyers are fragmented, and procurement is unpredictable,” she cautioned, endorsing the Africa CDC-led African Pooled Procurement Mechanism. Nardos called on political leaders, financiers, and stakeholders to unite in aligning health and industrial agendas. The CEO concluded by aligning her vision with South Africa’s G20 Presidency theme of “Building towards an inclusive and sustainable recovery.” She urged collective action to ensure that Africa’s health solutions are driven by African ingenuity and industry. “This is our moment to ensure that the value chains powering Africa’s growth are rooted in our innovation,” she declared, leaving the audience with a resounding sense of urgency and purpose.

Addis Ababa, April 20, 2025 (ENA) -- The African Union gearing up for impactful engagement at the Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) 2025, that will be held in Washington, D.C., from April 21 to 26. This year’s World Bank Group and IMF Spring Meetings will be held under the theme "Jobs – The Path to Prosperity." The meetings of these two influential global financial institutions are expected to attract central bankers, finance and development ministers, executives from the private sector, representatives from civil society and scholars to engage in discussions on pressing global issues. These topics encompass the global economic outlook, financial stability, efforts to eradicate poverty, promote inclusive economic growth and job creation, and address climate change, among others. As the international community gathers for this important meeting, AU will be hosting strategic side events to spotlight Africa’s development priorities. Key focus areas the side events will be advocating for fairer global financial governance and IMF quota reform, unlocking investments in jobs, trade (AfCFTA), and green infrastructure as well as advancing climate finance, according to information obtained from the AU. AU further stated that issues such as Special Drawing Rights (SDRs) rechanneling and African Development Fund (ADF) replenishment along with ways to elevating Africa’s voice in global decision-making structures will also be the other key areas of discussion. Coordinated by the AU Mission to the U.S., in partnership with AU's Department of Economic Development, Trade, Tourism, Industry & Minerals (ETTIM), Africa development Bank (AfDB) and AUDA-NEPAD, these engagements reaffirm Africa’s commitment to inclusive multilateralism and Agenda 2063 implementation. The meetings are set to discuss global economic priorities, including future fiscal and monetary policies, ways to bolster financial resilience, and promote effective international cooperation. Additionally, the sessions will explore the importance of international cooperation to foster new growth opportunities and adapt to evolving economic conditions. This year’s IMF/WBG Spring Meetings offer a strategic platform to coordinate international efforts and strengthen cooperation in tackling global economic and financial challenges. The meetings will offer a unique global platform for open dialogue, bringing together a select group of economic leaders and financial policymakers from around the world to share insights on how to strengthen international cooperation amid the rapidly changing global economic landscape.

Addis Ababa, April 19, 2025 (ENA) ---- Ethiopian Ambassador to Italy, Dmitu Hambisa held discussion with the President of the Council of Calabria Region of the Republic of Italy, Dr. Filippo Mancuso, and the advisor to the Italian Ministry of Tourism, Simone Landini. During their discussion, they agreed to work together to encourage investors from the Calabria region to engage in trade and investment in Ethiopia.   During the discussion with Simone Landini, Ambassador Demitu highlighted the high level of attention given to the tourism sector in Ethiopia and conveyed to Landini the country's desire to further strengthen cooperation with Italy in this sector. To this end, they reached a mutual understanding to sign an agreement to establish cooperation between the two ministries of the two countries.

Addis Ababa, April 19, 2025 (ENA) ---- The Industrial Parks Development Corporation (IDPC) has described Vietnam’s successful transition from small-scale industries to large-scale industrialization as a model for other developing countries. In a briefing he gave related to the recent visit of Ethiopia’s Prime Minister Abiy Ahmed to Vietnam, IDPC CEO Fisseha Yitagesu emphasized the Southeast Asian nation’s impressive strides in the manufacturing sector in recent years. According to Fisseha, Vietnam’s industrial growth has been largely driven by its ability to attract significant Foreign Direct Investment (FDI), positioning the country as a competitive global manufacturing hub. “As a result, the manufacturing sector now plays a central role in Vietnam’s economy,” he noted. Fisseha also explained that this transformation was made possible through a strategic approach rooted in Vietnam’s experience to strengthen its position in the global manufacturing value chain. He stressed the importance of drawing key lessons from Vietnam’s development path mainly in attracting foreign investments. “This kind of strategic foresight has enabled Vietnam to emerge as a major player in global manufacturing,” he said. According to Fisseha, Ethiopia can follow a similar path by strengthening domestic industries, utilizing local resources effectively, and adopting proven strategies from Vietnam’s experience to drive its own industrial transformation.  

Addis Ababa, April 19, 2025 (ENA) ---- Ethiopia and Vietnam are actively pursuing green economy with a shared vision, State Minister of Finance, Eyob Tekalign,said. Briefing about Prime Minister Abiy Ahmed's recent visit to Vietnam, State Minister Eyob underscored the Southeast Asian nation's remarkable transformation which joined middle economies, overcoming conflicts which had ravaged before two to three decades.   He elucidated that Ethiopia has meticulously designed short, medium and long-term strategic development plans and is implementing them to realize its objectives. Vietnam has registered milestones by following similar line of development, he added. Vietnam has also made substantive advancement, in the industrial and construction sectors, propelling the nation to the stature of a global manufacturing epicenter, the state minister further stated. He attributed this noteworthy success to the government's steadfast commitment to the execution of its outlined plans, coupled with the robust support extended by its citizenry.   Eyob emphasized Ethiopia's optimistic outlook for achieving rapid prosperity through its current endeavors—expressing affirmation with the invaluable insights and lessons gained from Vietnam's developmental experience. He accentuated the symbiotic alignment of Ethiopia and Vietnam in their mutual aspiration to cultivate a robust green economy. He also drew attention to Ethiopia's parallel initiatives with Vietnam in constructing clean, green and livable urban centers. Furthermore, he elucidated that the Prime Ministerial visit facilitated the acquisition of crucial knowledge pertaining to Vietnam's established expertise in the realm of smart city development.

Addis Ababa, April 18, 2025 (ENA) --- African Export-Import Bank (Afreximbank), Africa’s leading Multilateral Financial Institution, launched its first-ever state-of-the-art Afreximbank African Trade Centre (AATC) in the Caribbean, marking a pivotal moment for trade relations between Africa and the CARICOM region. The 180 million USD Barbados AATC, the first to be established outside Africa, is an authentic icon of trade embodying the ambition, resilience, and influence of leading commercial cities in Africa and the Caribbean that serve as dynamic focal points for commerce, fostering regional and global trade connections. It is expected to enhance intra-and extra-African trade, with a focus on countries of the Global South through Afreximbank’s Global Africa initiative. To facilitate the construction of its iconic AATC in its capital, Bridgetown, the government of Barbados granted Afreximbank 6.4 acres of land at Jemmotts Lane, the former Ministry of Health headquarters. Upon completion, the business complex will house Afreximbank’s CARICOM office, a conference facility, a technology and SME incubator, a Digital Trade Gateway, 100 room hotel, and a trade and exhibition centre, as well as office spaces for local, regional and international financial and policy organisations.   This groundbreaking event marks the official commencement of construction for this historic project and is a significant step in Barbados and CARICOM’s journey towards economic advancement and regional integration. Afreximbank initiated the AATC concept following a 2018 Board decision to create trade facilitation hubs in key commercial capitals across Africa. These hubs will provide integrated trade information, services, finance, and ancillary facilities. Nine leading commercial cities were subsequently selected to host the network of AATCs across Africa and the Caribbean. They include Abuja (Nigeria), Harare (Zimbabwe), Kampala (Uganda), Cairo (Egypt), Abidjan (Cote d’Ivoire),Yaoundé (Cameroon), Bridgetown (Barbados), Kigali (Rwanda) and Tunis (Tunisia). They will serve to link buyers, sellers, suppliers, service providers, enterprises, governments, chambers of commerce, financial institutions, economic development organisations and the general African and global trade and investment community.   Delivering the keynote address during the event, Mia Amor Mottley, Prime Minister of Barbados and Chairman of the Caribbean Community (CARICOM), said “My government stands proud here today to be able to bring in to the pantheon of financial institutions in this country, Afreximbank, not simply as an entity that is leasing a building from somebody for an office, but as an institution ready to lay roots and foundations in this country – the first AATC outside of Africa, just like Barbados was the first hub (for slaves) outside of the continent of Africa, and in so doing, we send the signal that we intend to be able to reclaim our Atlantic Destiny.”

Addis Ababa, April 18, 2025 (ENA)—Ethiopia took part in the ministerial segment of the BRICS meeting on agriculture that was held in Brasilia, Brazil on April 17, 2025. Speaking at the Ministerial Meeting, Ethiopia’s Ambassador to Brazil, Ambassador Leulseged Tadese, outlined the multi-faceted and integrated policies and initiatives that the Ethiopian government has implemented under the leadership of Prime Minister Abiy Ahmed. These include the National Wheat Harvest, Green Legacy Initiative, Yelemat Tirufat, cluster farming, land restoration, and irrigation programs. The Ambassador emphasized that Ethiopia’s achievements in the agricultural sector demonstrate how strong political commitment, leadership, and well-coordinated initiatives can transform agriculture in Africa.   He added that Ethiopia is intensifying its comprehensive agricultural programs to ensure food security and food sovereignty. In this regard, Ethiopia is ready to strengthen cooperation with BRICS members and partners in areas such as technology transfer, knowledge sharing, and experience exchange. Ambassador Leulseged also highlighted Ethiopia’s vast investment opportunities in agriculture and invited the BRICS business community to explore these prospects and invest in Ethiopia.   The Agriculture Ministerial Meeting was preceded by a Senior Agricultural Officials’ Meeting, which took place in Brasília from April 14–16, 2025, it was learned.

Addis Ababa, April 17, 2025 (ENA) -- Ethiopia and Kenya have signed an implementation memorandum of agreement in a manner that will facilitate trade relations between the two countries and will allow people living in the border area to access basic daily commodities without any supply disruptions. The agreement aims to strengthen bilateral trade relations and ensure the continuous flow of essential goods for communities residing along their shared border. Kassahun Gofe, Ethiopia's Minister of Trade and Regional Integration, shared via his social media platforms that the memorandum of agreement was signed following two days discussion. "We concluded the Ethiopia-Kenya border trade negotiations that we started yesterday, and today we signed an implementation memorandum of agreement with the Kenyan Minister of Trade, Investment, and Industry," he stated. It is to be noted Ethiopia’s Minister of Trade and Regional Integration Kassahun Gofe held discussion with his Kenyan Counterpart, Minister of Trade, Industry and Investment, Lee Kinyanjui, on bilateral trade relations in Mombasa.

Addis Ababa, April 17, 2025 (ENA) -- The efforts being underway at the Ethiopian Investment Commission will help position Ethiopia as a competitive destination for investment, Deputy Prime Minister of Ethiopia Temesgen Tiruneh remarked. The Deputy Prime minister made the remark in his comment posted on social media regarding his visit to the Ethiopian Investment Commission today. “Today, we had the opportunity to visit the Ethiopian Investment Commission and witness firsthand the important work it is doing to strengthen Ethiopia’s investment climate. Over the years, the Commission has undertaken meaningful reforms that are making a real difference,” he explained. Temesgen added “We saw an institution embracing international standards and leveraging modern digital tools to deliver high-quality customer service.”   These efforts are not just improving efficiency—they are helping position Ethiopia as a competitive destination for investment, the Deputy PM underlined. Appreciating the broader macroeconomic reforms, he said “we are now seeing tangible results, including a significant increase in foreign direct investment over the first nine months of the fiscal year.”   Looking ahead, Temesgen pointed out “we have asked the Commission to sharpen its focus—promoting targeted investment opportunities and accelerating investment flows in line with our national economic priorities. Because when we create the right conditions for investment, we create jobs, spark innovation, and unlock the full potential of our economy.”

Addis Ababa, April 17, 2025 (ENA) --- Ethiopia’s Ministry of Industry reported that ongoing macroeconomic reforms have significantly improved manufacturing performance by increasing access to foreign exchange and financial resources. The ministry emphasized that the wide-ranging economic reforms implemented since July 2024 are yielding tangible results, revitalizing the manufacturing sector and contributing to the country’s broader goals of sustainable growth and prosperity. State Minister of Industry Tarekegn Bululta told ENA that the reforms have addressed a major bottleneck for the manufacturing industry, the shortage of foreign exchange, enabling industries to access better inputs and boost production. As a result, he said, the capacity of many previously closed or underperforming factories has been restored and significantly improved, with the sector's overall production capacity increasing by over 60 perecent since the reforms began. The state minister said that the government's strategy of import substitution is yielding significant outcomes, with domestically manufactured goods valued at 3 billion USD generated in the first nine months of the current fiscal year. According to him, this success is exemplified by the local production of essential infrastructure components like electrical poles, cables, and transformers, now utilized in projects such as the Addis Ababa corridor. This move is effectively reducing import dependency and bolstering the growth of local industries. Tarekegn highlighted that the manufacturing sector has generated 276 million dollars in export revenue during the current fiscal year, marking a significant 18 percent increase year-over-year. However, he stressed that substantial potential for further improvement remains. The government has allocated 76 percent of its loans to the private sector, aiming to further stimulate industrial growth and this initiative has attracted both domestic and foreign investment, leading to the creation of numerous job opportunities to tackle financing challenges within the sector, the state minister underscored. The sector is expected to achieve 12 percent growth, supported by favorable macroeconomic conditions and government incentives, in addition to ongoing tax relief measures, a new investment strategy is also being prepared to further encourage manufacturing expansion, he stated.

Addis Ababa, April 17, 2025 (ENA) ---The Ministry of Trade and Regional Integration has emphasized Ethiopia and Kenya's keenness to strengthen and enhance their bilateral trade relations. Discussions on boosting trade cooperation between the two nations took place in Mombasa between Ethiopia’s Minister of Trade and Regional Integration, Kassahun Gofe, and Kenya’s Minister of Trade, Industry, and Investment, Lee Kinyanjui. During the meeting, the two sides explored various strategies to boost trade cooperation, including reviewing the report on border trade negotiations initiated by the bilateral technical committee. “This is to ensure that trade activities in the border area are conducted legally, rather than through informal channels,” Minister Kassahun stated on his official social media page. He also noted that both sides have agreed on a shared direction to finalize the ongoing negotiations. Minister Kassahun stated that the meeting stated the ongoing commitment of both Ethiopia and Kenya to formalize and expand cross-border trade, with the larger objective of fostering economic cooperation and regional integration.

Addis Ababa, April 17, 2025 (ENA)--Prime Minister Abiy Ahmed underscored that the Hanoi Summit has shown that even small, well-integrated P4G projects can drive meaningful impact and hold strong potential for scaling. Ethiopia is deeply honoured to receive the torch and assume the responsibility of hosting the fifth P4G Summit in 2027, the Premier indicated. “We embrace this opportunity with determination and an unwavering commitment to build on the inspiring legacy of Viet Nam, Colombia, Denmark, and the Republic of Korea.” Guided by P4G’s core principles of partnership, innovation, inclusivity, and action, Ethiopia’s 2027 Summit will spotlight green industrialization, climate-resilient agriculture, and the empowerment of youth and women as essential agents of change in the green transition, he explained.

Addis Ababa, April 16, 2025 (ENA)— The World Trade Organization (WTO) says the volume of trade in goods worldwide is likely to decrease by 0.2% this year due to U.S. President Donald Trump’s shifting tariff policies and a standoff with China. The World Trade Organization says the volume of trade in goods worldwide is likely to decrease by 0.2% this year due to U.S. President Donald Trump’s shifting tariff policies and a standoff with China, but it would take a more severe hit if Trump carries through on his toughest “reciprocal” tariffs. The decline in trade will be particularly steep in North America even without the stiffest tariffs, the global trade forum said Wednesday, with exports there this year expected to fall by 12.6% and imports by 9.6%. The WTO based its report on the tariff situation as of Monday, according to AP. Initially, 2025 and 2026 were expected to have continued expansion of world trade, but Trump’s trade war forced WTO economists to substantially downgrade their forecast, the forum said. Trade in goods worldwide would slump by 1.5% if Trump follows through on his stiffest tariffs on most nations, due to the uncertainty unsettling businesses. Trump suspended the toughest set of tariffs for 90 days earlier this month so more than 70 countries have a chance to address U.S. trade concerns. Meanwhile, he is increasing taxes on Chinese imports to 145% and engaging in a lengthy back and forth with Canada and Mexico about tariffs on their goods. Despite the 90-day pause, “the enduring uncertainty threatens to act as a brake on global growth, with severe negative consequences for the world, the most vulnerable economies in particular,” WTO Director-General Ngozi Okonjo-Iweala said in a statement. “Our simulations show that trade policy uncertainty has a significant dampening effect on trade flows, reducing exports and weakening economic activity,” WTO chief economist Ralph Ossa said in the statement. “Moreover, tariffs are a policy lever with wide-ranging and often unintended consequences. In a world of growing trade tensions, a clear-eyed view of those trade-offs is more important than ever," she added.

Addis Ababa, April 16, 2025 (ENA) --- The National Bank of Ethiopia has disclosed that it will conduct a foreign exchange auction tomorrow, Thursday, April 17, 2025, amounting to 70 million USD. The auction is going to be held in line with its recent commitment to conduct a regular series of bi-weekly foreign exchange auctions and consistent with its price and external stability objectives. Interested banks are invited to submit their bids in line with the guidance specified in the announcement.