MESERET BEHAILU — The Ministry of Trade and Regional Integration (MoTRI) has revealed that the floating exchange rate reform is yielding significant outcomes, with improving the quality of export products being a key future focus area.

This statement was made by MoTRI Minister Kassahun Gofe (PhD) during the launch of the Addis Gena 2017 Expo - Addis Christmas 2024 Expo on Tuesday.

In his opening remarks, Kassahun stated that the floating exchange rate, which removes restrictions and restores macroeconomic stability, has had a notable impact. The financial reform has created a favorable environment for both domestic and foreign investors by eliminating bureaucratic red tape, enabling businesses to operate more efficiently.

According to the Minister, Ethiopia has generated over 2.6 billion USD from exports in the first five months of the current fiscal year. To further enhance the quality of exported products and boost international competitiveness, MoTRI has been implementing various initiatives. Additionally, the ministry is working to bridge the gap between trade communities, consumers, and buyers by ensuring reasonable pricing.

Kassahun emphasized that MoTRI is focused on modernizing products to maximize benefits and provide world-class goods in the international market in the coming years. He highlighted that Ethiopia's Homegrown Economic Reform has been instrumental in reducing inflation, which dropped from 29% to 19% in recent periods.

He also stressed the importance of promoting expos and exhibitions, which connect consumers with suppliers and address issues such as price gouging by unscrupulous traders.

Furthermore, Kassahun indicated that such expos and exhibitions play a critical role in creating direct linkages between suppliers and buyers, fostering a more transparent and efficient trade environment.