Ethiopian Review

Addis Ababa – Experts of Commodity Futures Trading Commission (CFTC), based in Washington, commended the activities of the Ethiopian Commodity Exchange Authority (ECEA) in establishing modern commodity trading in Ethiopia.

Senior Economist of the Division of Market Oversight Market Surveillance, Dr. Chul W. Park and Special Council of the Office of International Affairs with the CFTC, Myra Silberstein told WIC that ECEA is moving on the right track in its effort of establishing modern commodity trading in Ethiopia.

According to the experts, the ECEA has launched encouraging activities in institutionalizing modern commodity trading in the country.

The experts also pointed out all kinds of products in Ethiopia can be traded in the newly emerging commodity exchange system, adding, that all stakeholders in the commodity trading should join hands in realizing the modern trading scheme in the country.

They also indicated that the authority and the Ethiopian Commodity Exchange (ECX) can draw experiences and best practices from the US commodity exchange trading and adapt to the Ethiopian culture and situation.

The experts finally urged all stakeholders in the commodity exchange activity in Ethiopia including farmers, producers, traders and other stakeholders to work in harmony towards realizing the effort of establishing modern, reliable as well as efficient commodity market in the trading system.

- WIC