Researcher Stresses Need for New Avenues Tuned with Global Geoeconomic Dynamics to Advance Economic Reform

Addis Ababa, June 14, 2025 (ENA)— Exploring new avenues tuning with global geo-economic dynamics is imperative to further advance Ethiopia’s economic reform by leveraging a better economic diplomacy, a senior researcher at the Institute of Foreign Affairs (IFA) said.

In an exclusive interview with ENA, IFA senior researcher Anteneh Getachew said Ethiopia has embarked on a lot of macroeconomic policy reforms, including the recent transition to a floating exchange rate system.

This is deemed to enhance Ethiopia's economic diplomacy at global level, he added.

Yet, following the tariff war and the shock that has been happening to the proper functioning of multilateral platforms all over the world, countries have been searching new alternatives or policy options to enhance their national interests in the global context.

Ethiopia, too, has been making trade agreements and exploring new markets in Asia and Latin America, Europe and others to become a destination for market, the senior researcher stated.

In this respect, he emphasized the need to explore the nation’s potential opportunity for foreign direct investment, underscoring the business-friendly environment the country is creating by implementing the Homegrown Economic Reform and a number of macroeconomic reforms.

Highlighting the reforms the government is making, Anteneh added that diplomacy is critical to integrate into the global system and leverage a better economic diplomacy into a new chapter.

Also, “we need to have a robust public relations strategy that can be done at international level.”

According to him, Ethiopian diplomatic missions should be well articulated about the reforms and their importance in leveraging economic diplomacy.