He also stressed that attention must be given to improve logistics and transport governance by minimizing the cost of bureaucracy to accelerate manufactured good exports, agricultural and mining exports.

"Investment in a more sustainable agricultural productivity that is not wholly dependent on natural weather conditions that looks into economic diversification, specialization and strong economic management to enhance resilience," Costantinos said.

Costantinos, also professor of public policy at the Addis Ababa University in Ethiopia, further stressed that the east African country should also embrace wider engagement and in-depth consultation with the private sector in industrial policymaking and implementation is necessary to develop the legal and financial system and structure that will create conducive environment for investment.

According to the scholar, intentional and strengthened efforts must be exerted to integrate Ethiopia's trade with regional and global market by building the necessary infrastructure and implementing regional trade liberalization commitments.

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