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Ethiopia’s plans to join the World Trade Organization (WTO) in less than two years could be delayed due to the Coronavirus pandemic.
Commerce and Industry Minister Melaku Alebel said The reporter this week that discussions and other talks on accession have come to a halt as a result of the COVID-19 pandemic.
Ethiopia’s accession to the WTO has started since 2003. The country had renewed its dormant process of accession to the WTO through Working Group meetings at the WTO Secretariat in 2019 and early 2020.
Melaku said that most of the work on the Ethiopian side has been completed; noting further that many international organizations are not working and the documents that should have been reviewed and signed by the WTO and other institutions have not been finalized on schedule due to the pandemic.
“The WTO is very interested in having Ethiopia as a member,” said the minister, adding that work is already underway to offset the effect of the pandemic in the scheduled timeframe.
The Minister further indicated that important issues of national concern associated with identifying sectors to open or not are behind Ethiopia’s long-standing commitment to the WTO.
“Ethiopia does not plan to open its market immediately; some market segments will open later than others, ”Melaku said. He also urged members of the trade and manufacturing sectors to increase their production and supply capacity to compete globally.
“As Ethiopia transcends from the local and regional economic zone to a more complicated international scenario, it needs broader business prospects that match the international market,” said the Minister.
In this sense, a solid dialogue and negotiation are important to safeguard the interests and economic rights of the country, he stressed.
The Minister also provides for the approval of the revised commercial bill, which was recently approved by the Council of Ministers. The current commercial law has been in force since 1952.
The new law, which is expected to be approved this year, takes into account various regional and international conditions that would complement Ethiopia’s bid for accession to the WTO, he added.
Additionally, Melaku said the new law is designed to make Ethiopia more competitive.
