Payments abroad for imports require exchange licences, obtainable upon presentation of a valid importer s licence. Approval of applications for an exchange licence depends on satisfactory information being given regarding costs and payment terms and on the submission of evidence that adequate insurance has been arranged with the Ethiopian Insurance Corporation, particularly for goods imported under letters of credit. Exchange licences are granted in any convertible currency requested. Payments by letter of credit, mail transfer, telegraphic transfer, or cash against documents at sight are all normally acceptable, but the National Bank must be consulted regarding imports on a cash against documents basis. Importation on suppliers credit requires prior approval of the terms and conditions of the credit, and such imports are limited to raw and intermediate materials, pharmaceuticals, and machinery and transport equipment.
All imports require a licence.
The Ministry of Trade and Industry is authorised to prohibit, restrict or regulate imports and exports. Ethiopia is a contracting party to the Harmonised Commodity Description and Coding System of tariff classification. There are no Foreign Trade Zones. Samples of no commercial value are usually entered duty-free. Samples of commercial value can be imported temporarily under payment of a bond, which is refunded on export.