NEWS
Import-export license renewal
The Xinhua News Agency
September 18, 1995
Addis Ababa – Only a quarter of the over 16,000 individuals engaged in import-export trade have renewed their licenses during the last four years, the ministry of commerce and industry announced here today.
A statement from the ministry said only 3,736 individuals have renewed their licenses, adding that this shows that most of the traders are abandoning the trade for the competition in the free market is now becoming tougher.
The statement said 85 percent of the import-export traders reside in addis ababa, of whom about 13 percent of them have already returned their licenses.
The trade is determined by the amount of import-export goods, it said, pointing out however that the increasing and decreasing number of traders will not deter the activity. The National Bank of Ethiopia demands renewed licenses from traders before rendering services to them to help check illegal trade.
According to the statement, licenses are now being given to anyone who wants to involve in the import-export trade without any restrictions.
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