Authority, ICF sign 7.3 mln USD agreement
Addis Ababa, 14 December 2013 (WIC) - The Ethiopian Revenues and Customs Authority and the Investment Climate Facility (ICF) on Friday signed agreement amounting to 7.3 million USD to establish an electronic single window system for international trade.
The main objective of the project is to set up a single window system that will facilitate international trade by reducing export, import and transit procedures and reducing the time and costs of clearance documents preparation.
The system will help to make the country's business more competitive, attractive to investment opportunities and stimulate the country's economic development.
Authority Director-General Beker Shale on the occasion said the project will have a prominent impact on the overall trading activity of the country.
He expressed belief that the system will be welcomed by the business community and all stakeholders and be optimally utilized.
ICF CEO William Asiko on his part said ICF is pleased to be in the forefront of helping Ethiopia improve its business environment.
The support ICF is providing to improve trade facilitation will help to make the country competitive and more attractive to investors, he said.
This is the second time that the Authority and ICF are working together on such selected projects with the aim of improving Ethiopia's investment climate.
The first project which was focused on modernizing the tax administration system completed in 2012.
It created an online filing system for large tax payers and also established a call center in the Authority's headquarters.
ICF is a donor funded, private sector focused development institution whose purpose is to enhance the economic prospects of African society by working with businesses and governments to improve the investment climate in respective African countries.
ICF works with African governments to create a conducive legal, regulatory and administrative environment for businesses, both big and small, to invest, grow and create jobs.
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