Trade Agreements - Ethiopia
Trade agreements Ethiopia has signed
Ethiopia signed a Treaty of Friendship and Economic Relations which describes bilateral and multilateral trade agreements that this country is party to, thus women can get more information from this content on how to take advantage of these agreements. The different trade agreements have been summarized below:
- Bilateral Investment Treaties (BITs): these are with the following countries; Algeria, Germany, Libya, Switzerland, Austria, India, Malaysia, Tunisia, Belgium, Iran, Netherlands, Turkey, China, Israel, Russia, United Kingdom, Egypt, Italy, South Africa, Yemen, Equatorial Guinea, Djibouti, Spain, USA, Finland, Qatar, Sudan, France, Kuwait and Sweden.
- Double Taxation Avoidance Treaties (DTTs): with 12 countries including Czech Republic, Russia, Italy, Turkey, France, South Africa, Kuwait, Yemen, Israel, Tunisia and Romania.
- Generalized System Preferences (GSP): extended to Least Developed Countries (LDCs) by most developed and developing countries including; Australia, Canada, European Union, Japan, New Zealand, Norway, Russia, Switzerland, Turkey, USA, India, China and South Korea
- AGOA (African Growth and Opportunity Act): is a market opportunity provided by US Government to eligible Sub-Saharan African countries to export their qualifying products free of tariffs and quotas.
- Everything but Arms (EBA): is a market opportunity that is given to all Least Developed Countries (LDCs) granting them full duty free and quota-free access to European Union markets for all their exports with the exception of arms and armaments.
- Common Market for Eastern and Southern Africa (COMESA): is a free trade area with 21 member states stretching from Libya to Eswatini (formerly known as Swaziland) and to which Ethiopia is a member.
- Africa Continental Free Trade Agreement (AfCFTA): is meant to create a tariff-free continent that can grow local businesses, boost intra-African trade, revamp industrialization and create jobs. The agreement creates a single continental market for goods and services as well as a customs union with free movement of capital and business travelers.
Furthermore, Ethiopia is a signatory to the following trade agreements:
- Agreement Establishing Intergovernmental Authority on Development (IGAD)
- African, Caribbean, and Pacific Group States (ACP)-EU Economic Partnership Agreement
- At the continental level, Ethiopia has signed and ratified the Abuja Treaty that aims to establish an Africa Economic Community among the continent's 54 countries.
Understanding the country’s trade agreements will help women entrepreneurs to benefit from the opportunities available through these agreements. For further information click here.