May 12/2022 /ENA/ EU has granted the most favorable trade regime to Ethiopia that the EU can offer to any country in the world, European Union Delegation Head in Ethiopia Roland Kobia told Ethiopian News Agency.Thank you for reading this post, don't forget to subscribe!
The delegation head said the EU trade grant for Ethiopia, Everything But Arms (EBA), is like the African Growth and Opportunity Act (AGOA) of USA.
” It is like AGOA for the Americans; but the EU regime is enabling Ethiopian companies to export to EU (countries) without any custom duties, with zero percent tariffs and without any quantitative restrictions.”
According to the head of the delegation, the EU trade grant is the most favorable trade regime that EU can offer and granted to Ethiopia some years ago and still going on.
EU has not suspended this opportunity for Ethiopia. So, all Ethiopian companies can still benefit from it in exporting their products without any limitations to EU countries, Kobia elaborated.
“It is most favorable trade regime that EU can offer and granted to Ethiopia some years ago and still it is going on. We have not suspended or lifted the trade regime. All Ethiopian companies can still benefit from it and export without any limitations to EU, which is the source of foreign exchange, jobs creation and helping growth of the economy in Ethiopia.’’
The head further stated that even if EU gives loans to Ethiopia, the majority of aid is granted ( non-repayable grants) because if there is too much of loans then they become burden for the country.
Kobia believes that the combination of development aid and trade facilities is helping Ethiopia to cope up with the difficulties that occurred for the time being internally and regionally.
Meanwhile Trade Relations and Negotiation Director General at Ministry of Trade and Regional Integration, Musse Mindaye stated that efforts are being exerted to widen and increase opportunities at the EU market.
The average overall Ethiopia’s export to EU countries by 2020 was over 2.7 billion USD, he said, adding that most of the country’s export are agricultural goods.