The Ethiopian Commodity Exchange (ECX) officially launched an online trading system where buyers and sellers can transact from different locations.
Launching the system on Friday, Ethiopian Minister of Trade and Regional Integration Kassahun Gofe said the direct online trading system aims to foster accessibility, transparency, and maintain quality of products in the process of trading.
“The new trading system will make the business sector take its due share in the country’s share, ensure fairness, help diversify the country’s export product,” he said.
Gofe said the newly launched online trade service will make the trading system inclusive, accessible, and competitive.
The minister said the system connects producers and traders directly from anywhere, modernises marketing system and will help farmers benefit from an inclusive financial system.
The online trading system is part of the digital Ethiopia 2025 strategy, aiming to expand the reach of the online transaction system across the East African country.
The system was designed through joint collaboration between the Ministry of Trade and Regional Integration and the Ethiopian Artificial Intelligence Institute, it was learned.
MG/as/APA