Joining WTO will attract more foreign investors to Ethiopia, says State Minister

 (1 June 2007)

Ethiopia’s ongoing negotiations to join the World Trade Organization (WTO) will open opportunities for foreign investors to take part in local market, in addition to enhancing international competition.

State Minister of Trade and Industry Ahmed Tusa said that joining the organization will enable the country to create stable local market and put in place a conducive atmosphere for foreign investors.

It will also increase the country’s trade ties with WTO member states and create conducive atmosphere to increase foreign direct investment, he added.

The government is doing its best to meet the requirements of the organization, the state minister said, adding that building institutions and coordinating staff has been underway in order to execute the rules and regulations of WTO.

Ethiopia applied for WTO membership on January 2003 and submitted its document of establishment for the organization's secretariat on December 2006.  

Ethiopia has completed the first of four steps that it is expected to meet and has embarked upon the second step, it was also indicated(ENDS).