Ethiopia to boost exports as country faces food crisis
Ethiopia has set up a new regional office for trade and development, hoping to boost the country’s exports amid a looming food crisis that has hit the African nation’s economy.
The office, headed by Vice President Ahmed Kamel, was established in a ceremony on Monday.
The government is expected to announce a plan for the establishment of the new office on Thursday.
The new office will help promote cooperation between Ethiopia and neighboring countries and countries of the Horn of Africa region in order to overcome the economic challenges facing the country.
The Ethiopian government has long been plagued by shortages of basic foodstuffs.
It has been struggling to feed its people, and is facing severe food and fuel shortages in the past two years.
The food crisis has also hurt the tourism sector.
The country is expected grow at least 2 percent this year, but the government needs to boost agricultural exports to keep up with growing economic demand.
It hopes the new offices will help boost Ethiopia’s trade and investment opportunities in the Horn and other African countries.
Ethiopia is one of the fastest-growing economies in the world.
Its economy grew by more than 7 percent last year, up from 1.5 percent a year ago, according to the World Bank.
Its current unemployment rate is less than 3 percent.
Ethiopia has seen economic growth of 8.3 percent last month.
The IMF has warned that Ethiopia could experience a food crisis this year as a result of the drought.
Ethiopia’s economy relies heavily on exports to Africa, with some of the largest domestic products being grains, cocoa and cocoa beans.