Ethiopia expected to liberalize its banking sector to access the WTO

Jul 18, 2013

Ethiopia, a candidate for entry into the World Trade Organization (WTO), is expected to submit several proposals to the agency by September, including the liberalization of its services sector.

Ethiopia, a candidate for entry into the World Trade Organization (WTO), is expected to submit several proposals to the agency by September, including the liberalization of its services sector.

According to the newspaper Jeune Afrique, the negotiations could take place on the basis of progressive liberalization in key
industries
such as telecommunications, electricity
and
the banking and financial sector.

Relations and trade negotiations director at the Ministry of Trade and Industry Geremew Ayalew told Bloomberg that the country could join the WTO by mid-2015.

But according to Chiedu Osakwe, director of accessions at the WTO, "the road is still long and we must pick up pace to revive the accession process".

Experts believe that the WTO accession efforts should contribute to improving the business climate in Ethiopia.

Liberalization should boost economic growth by promoting business development, as companies will gain access to external financing.ADNFCR-2976-ID-801613772-ADNFCR