Ethiopia: PM Abiy Inaugurates Dire Dawa Free Trade Zone

Donat Sorokin/TASS Host Photo Agency
Ethiopia's Prime Minister Abiy Ahmed (file photo).
14 August 2022
Ethiopian News Agency (Addis Ababa)

Addis Ababa — Prime Minister Abiy Ahmed has today inaugurated the Dire Dawa Free Trade Zone, which is believed to improve Ethiopia's entire economy by boosting the import and export trade of the country.

The establishment of free trade zone is one of the initiatives set in the 10-year perspective development plan of Ethiopia.

Dire Dawa is selected to be the first free trade zone due to its proximity to ports, market potential and huge cargo gravity as well as suitability for multimodal transport and logistics operation.

The Free Trade Zone is also aligned with the African Continental Free Trade Area (AfCFTA) as well as realizing regional integration.

Logistics time and cost reduction, efficiency, growth in trade competitiveness, attracting FDI, impact on urbanization and industrialization, and boosting the entire economy are among the benefits to be attained from Dire Dawa Free Trade Zone, it was learned.

It was also indicated that additional Free Trade Zones will also be established in other parts of the country and Special Economic Zone too.

Read the original article on ENA.

Tagged:
Copyright © 2022 Ethiopian News Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.