Addis Ababa, January 6, 2011 (Addis Ababa) - Prime Minister Meles Zenawi urged all concerned bodies including the business community to implement the proclamation on trade practices on food and non-food items, which enables to stabilize the price hike in the country.

Meles here on Thursday held a relevant discussion with the business community.

While responding to questions raised by the business community on the occasion the Premier said proclamations including the trade registration as well as the trade practices and consumer protection are ratified by the House of Peoples’ Representatives.

The proclamations are designed to bring about drastic change on the existing trade system in the country.

Preparations are underway to implement the proclamations, the Premier said, adding, the bills are not meant to discourage the business community who work legally.

Meles said there are some fruitful results registered so far in the efforts to create a conducive atmosphere in relation to trade activities, but there is price hike in particular on basic needs.

The government has established strong controlling mechanisms to the prevailing unhealthy market competition. It also desires to create a strong and well-developed business community and this is expected from a free market principle, Meles said.

There is problem of understanding and lack of awareness among the business community, Meles said, adding, this has been creating problem in particular on side of the needy.

The main objective of the discussion is to implement the proclamations through establishing a healthy trade system, strengthening free market competition and raising awareness among the communities, he said.

Meanwhile, the Ministry of Trade announced permanent retail price for some commodities beginning from 06 January 2011.

The retail prices announced by the Ministry include, among others, imported palm oil - 16.50 Birr per liter, sugar and rice per KG - 14 Birr and 12.40 Birr respectively.

ENA