NBE Authorizes Commercial Banks to Issue Export Permits for Goods Destined to China

The National Bank of Ethiopia (NBE) has authorized commercial banks to issue export permits for goods destined to China.

According to the public notice issued today, NBE said all licensed commercial banks are fully authorized to issue export permits, manage documentary credits, and handle all related banking transactions for goods destined for China effective today.

All banks are therefore requested to facilitate these export services for their clients in strict compliance with the existing standard foreign exchange and export regulations, it added.

NBE recalled that, based on the general economic and financial cooperation agreement between the Ethiopia and China, it was previously directed that all export permits for goods destined for China be processed exclusively through the Commercial Bank of Ethiopia (CBE).

However, the Bank concluded that is has officially lifted the restriction with the aim of further streamlining the nation's foreign trade sector, enhancing competitiveness, and creating a more accessible environment for exporters.