Day: April 7, 2024

Addis Ababa: Ethiopia will hold a pivotal fifth-round World Trade Organization (WTO) meeting that would help the country in joining the organization, according to the Ministry of Trade and Regional Integration.

Minister of Trade and Regional Integration, Gebremeskel Chala confirmed to ENA that the meeting is anticipated to be held in the next month, May 2024.

Recalling Ethiopia first applied before 20 years ago, the minister stated that the negotiation endeavor was disrupted in recent years by the COVID-19 pandemic and other challenges.

However, the minister revealed that Ethiopia has been intensifying its efforts and he mentioned a delegation visit to the WTO Director-General in Geneva, Switzerland back in July 2023.

According to him, this visit resulted in a three-year timeframe for Ethiopia to finalize negotiations and secure WTO membership.

Consequently, Ethiopia has received around 180 questions and 9 documents from member countries and potential negotiating partners, the minister pointed out.

Thes
e inquiries will be addressed on a dedicated platform that will be facilitated by the WTO itself.

Gebremeskel noted that Ethiopia’s negotiating team to the WTO is well-prepared to navigate these discussions in a manner that ensures the nation’s economic development and commercial competitiveness.

Ethiopia has held observer status at the WTO since 2003, similar to the European Union.

This role has allowed the country to gain valuable insight into the organization’s workings and prepare for full membership.

The ministry is currently finalizing crucial documents required for WTO accession, he stated.

These documents cover various aspects, including goods and services trade offers, import licensing procedures, information of public business enterprises, trade-related laws, and export subsidy and agricultural support details.

For Gebremeskel, Ethiopia’s determination to secure WTO membership demonstrates its commitment to deeper global trade integration.

By successfully navigating the upcoming negotiations,
the country can unlock new economic opportunities, enhance its commercial standing, and participate more actively in the international trade system, it was learned.

Source: Ethiopian News Agency

Addis Ababa: Residents of Addis Ababa have affirmed their commitment to reinforce their support for the completion of the Grand Ethiopian Renaissance Dam (GERD).

GERD, the biggest under construction hydropower project in the Africa continent and its construction commenced in 2011, is now near completion.

The reservoir of the dam has also retained 42 billion cubic meters of water, with overall project completion standing at 95.8 percent, it was learned.

Acknowledging this dam’s progress as a vital endeavor to see a prosperous Ethiopia for the future, the inhabitants of the capital have been further motivated to bolster their support until the completion of the GERD.

One of the residents, Zerihun Fekadu, told ENA that the Grand Ethiopian Renaissance Dam is a national asset that has reached a critical juncture and he is eagerly watching the completion.

Recall the Grand Renaissance Dam project is fully funded by the Ethiopian public without any foreign aid or loans.

Particularly, this mega project has been
financed by Ethiopians with crowdfunding through internal fund raising in the form of selling bonds and persuading employees to contribute a portion of their incomes.

For instance, Zerihun as a resident of Addis Ababa bought a 10,000 Birr worth of bond for the construction of the dam. And he pledged to intensify the support he has been providing for the renaissance dam.

Another resident Aregash Geda on her part stated that she bought 5,000 Birr worth of bonds and she reaffirmed her commitment to continue the support till the dam is completed.

She also called upon all Ethiopians to consolidate their unwavering support for the renaissance dam, describing the dam as the symbol of this present generation.

Ashenafi Hailemariam, another Addis Ababa city resident, underscored the construction of the Grand Renaissance Dam has involved Ethiopia from every corner of the country, pledging to continue his support.

Since the inception of the Grand Ethiopian Renaissance Dam, some 19 billion Birr has been collected fro
m the public, and now further calls have been made to sustain and strengthen this financial mobilization.

Source: Ethiopian News Agency