The country's newly-established Trade Competition and Consumer Protection Authority will work alongside the United Nations Conference on Trade and Development (UNCTAD) to implement the new laws, UNCTAD said in a statement.
Luxembourg will provide financial support for the project, which will take three years, the statement said.
Work will begin in the first quarter of this year, when UNCTAD will draw up an implementation plan and help to set up a steering committee, it said.
The project will cover four main areas: policy and the legal framework; institutional framework; enforcement capacity building; and advocacy for competition and consumer protection.
"Competition law enforcement is an essential tool to ensure that Ethiopians benefit from trade liberalisation. Consumer protection is complementary to competition law and policy in enhancing consumer welfare," UNCTAD said.
The proclamation covers the abuse of market dominance, anti-competitive agreements and practices that lessen competition. The TCCPA must approve mergers, and consumers must be given sufficient information about the price and quality of goods.
Consumers must be protected against "insult, threat, frustration or defamation", and be able to claim compensation for damage caused by the purchase or use of goods and services. Commercial adverts must not be misleading, the proclamation said.