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Addis Ababa, July 3 (WIC) – Traders in the modern commodity exchange system need to strictly abide by the laws of trading system in the country so as to transform the traditional trading system to modern one, ECEA said.
Coffee worth more than two billion birr has been sold via the Ethiopian Commodity Exchange (ECX) since last November. Opening a discussion forum held at Ghion Hotel with stakeholders, Director General of the Ethiopian Commodity Exchange Authority (ECEA), Ambassador Dr. Adissalem Balema said that the government is exerting efforts to avoid difficulties in the trading system. The smooth coffee trading being carried out via the ECX is an indication of the successful trading system, he said. Ambassador Dr. Addisalem further noted that ECEA is undertaking various activities to repeat the good results scored in coffee trading in other agricultural produces. Moreover, the government is also working to invigorate the commodity exchanges activities of the country, he said, adding that the warehouse Value Added Tax (VAT) payment system would also be applied on other agriculture commodities including sesame and soybeans. Currently coffee, sesame, soybean, maize and wheat are the agricultural produces being traded via the ECX, it was learnt. |
