Ethiopia’s Macroeconomic Reform Augments Export: Horticulture Producer Exporters

Addis Ababa: The recent macroeconomic reform will significantly enhance the competitiveness of export and the growth of the horticultural industry, according to producer exporters of cut flowers, vegetables, and fruits.The producer exporters told ENA that the macroeconomic reform will boost export earnings and competitiveness.The exporter, Tsegaye Abebe, who has been engaged in horticulture for the past 28 years, noted that the sector has huge potential in job creation and foreign exchange earnings.Among the bottlenecks of the sector has been foreign exchange, he said, adding that the recently announced macroeconomic policy reform is instrumental in enhancing the earnings from the sector and elevate competitiveness.The National Bank of Ethiopia noted recently that the reform introduces a competitive, market-based determination of the exchange rate and addresses the long-standing distortion within the Ethiopian economy.The exporter also expressed his readiness to properly exploit the opportunities th at the reform has brought by exporting quality products in increased quantity.Ethiopian Horticulture Producer Exporters Association (EHPEA) President, Nega Mequanent said the reform will boost the export of products by increasing income and strengthening capacity.Executive Director of the Ethiopian Horticulture Producer Exporters Association, Tewodros Zewdie commended the initiative taken by the government to encourage trade and investment.Properly managing the market-based foreign exchange will be a great opportunity for the export trade, he pointed out.The macroeconomic reform will bring Ethiopia into a market-based foreign exchange system, which is believed to benefit citizens engaged in foreign exchange earning sectors, including coffee, flowers, sesame, oilseeds, vegetables and fruits.Recall that Ethiopia has been undertaking significant economic reforms to open up the economy, including the liberalization of the telecom sector, the financial sector, trade and logistics sectors.Source : Ethi opian News Agency