Tuesday, February 27, 2024
BusinessNew Chambers of Commerce draft bill eliminates sectoral associations

New Chambers of Commerce draft bill eliminates sectoral associations

A new draft proclamation prepared by the Ministry of Trade to govern national and regional chambers of commerce ignores city/town level chambers of commerce and eliminates sectoral associations.

The new draft proclamation, which The Reporter was able to gain access to, dubbed “The Ethiopian Chamber of Commerce and Industry Establishment Proclamation” states how chambers of commerce and industries should be established at the national and regional levels.

It can be recalled that the previous proclamation established sectoral associations and chambers of commerce separately and the two come together to form the Chamber of Commerce and Sectoral Associations at different levels including city/town.

The new draft aims at making the private sector fit in the free-market policy, which the country follows, and help the commerce and manufacturing industry play their role in the economy.

In addition, a new provision concerning the composition of members of the Board at the Ethiopian Chambers of Commerce and Industry has been added. Now, it requires 50 percent representation from regional chambers and industry, 40 percent to be from the national level chambers of industry and the remaining 10 percent from national level chambers of commerce.

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At regional level, the composition of the members should be 10 percent from the private sector, 20 percent from unions, 40 percent from PLCs, and 10 percent from chambers of commerce.

The draft also provides the term limit for members of the board to two terms.

Apart from this, the bill also sets standards for national and regional level bazaars and exhibitions.

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Video from Enat Bank Youtube Channel.

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