Addis Ababa August 14/2022 /ENA/ Ethiopia set to inaugurate its first Free Trade Zone in Dire Dawa today in the presence of higher government officials.
The Dire Dawa Free Trade Zone 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.
According to the Ethiopian Maritime Affairs Authority, additional Free Trade Zones will also be established in other parts of the country and Special Economic Zone too.