Ethiopia's Private Sector Competitiveness Needs Serious Boost

Ethiopia is entering the international waters of global economy more and more, as the country is joining and signing agreements to liberalize the market for goods and services across the continent, and for multilateral trades. Currently, Ethiopia is in the process of accession to the World Trade Organization (WTO), while it has also signed the African Continental Free Trade Area (AfCFTA) agreement last March. This means that domestic firms will be facing stiff competition from foreign companies.

So, in light with these developments and external economic factors, the country's private sector will have to be in a position to compete with international firms. The competitiveness of the private sector is not only important for them to perform and survive in the international market, but it is also crucial for overall economic growth, rising income, and providing jobs for the youth.

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