On 21 March 2018 in Kigali, Rwanda, at the 10 th Extra-ordinary and ever historic summit of the AU,rnrepresentatives of African state members with strong political devotion and commitment, havernadopted the African Continental Free Trade Area Agreement (AFCFTA) to boost intra-African Tradernand bring radical economic development among member states through creating a liberalized singlerncontinental market facilitated by the movement of natural persons and capital mainly for the free flowrnof trade in Goods and trade in Services by dismantling tariff and non-tariff barriers of trade.rnEthiopia, a country within Africa, has become a member and ratified actively the AFCFTA agreementrnin order to tackle poverty and transform its citizens from poverty shelf story to the betterments ofrntomorrow. Accordingly, in this Paper, I argue Ethiopia as LDC, as a member to COMMESA, wasrnawarded a market access opportunity, but that was insignificant to attain competitiveness of thernexport sector. She also tried to balance its foreign deficit by providing incentives for the export sectorrnbut not that much meaningful. So that, the foreign trade regulation regime has to be reformed tornbenefit from AFCFTA Agreement. As a result, the AFCFTA agreement will have an implication onrnEthiopiaâ€™s foreign trade regulation; first, it enables Ethiopia to reform its policy and strategy, legalrnand institutional frameworks in a way to host trade liberalization and avoidance of tariff and non-rntariff barriers of trade. Second, it would have an implication to assess and restructure regulatoryrntools of foreign trade regulation regime. First, I argue that liberalization of tariff, quantitativernrestriction and export duties as per AFCFTA Agreement positively implies to have more trade flow torndrive economic growth, but it will pose a problem of government revenue loss and impact on the competitiveness of the domestic industry. Second, harmonization of technical measures as per thernAFCFTA enables the country to have a competitive export sector through quality assurance andrnenhance food safety and security even though it requires its technical costs. Third, legislating tradernremedy laws and domestic arrangements as per AFCFTA is pertinent, since it protects the domesticrnindustry from unfair and unintended trade practice. Fourth, sticking to AFCFTAâ€™s rules of originrnenables the country to intercept the regional supply chain and promote value addition. Fifth, having arnsimplified customs regulation enables to have an effective and efficient customs regime though itrnrequires investing infrastructure and automated technologies. Finally, liberalization of the servicernsector including the financial sector and the foreign exchange regime is valuable to facilitate businessrntransaction, attract FDI and to generate economic growth, but it requires capacity building of the domestic industry in order to protect it from floating by foreign companies.