Ethiopia is positioning itself to take full advantage of the African Continental Free Trade Area (AfCFTA) agreement, aiming to enhance its industrial sector, attract investment, and expand intra-African trade. A senior official highlighted that the successful implementation of AfCFTA could unlock vast market opportunities and strengthen the country’s manufacturing base.
State Minister of Trade and Regional Integration Yasmin Wohabrebbi emphasized the need for a comprehensive national strategy to maximize benefits from the agreement. Ethiopia’s draft implementation plan outlines key sectors with competitive advantages and details actions to integrate the country into regional and global value chains.
Since AfCFTA’s entry into force in 2019, Ethiopia has joined 46 other African nations in ratifying the agreement, which aims to eliminate trade barriers and enhance economic cooperation across the continent. With a market of 1.4 billion people and a combined GDP of $3.4 trillion, the trade pact presents an opportunity to generate jobs, boost value-added exports, and drive economic growth.
Ethiopia is now focusing on finalizing its implementation framework, ensuring that its industries and manufacturers can access new markets and secure essential raw materials to support the country’s development goals.