Ethiopia aims to improve exports by giving incentives for exporters

Source: https://apparelresources.com

The textile sector in Ethiopia intends to export more products by providing incentives to exporters. This was recently announced by Sileshi Lemma, Director General, Ethiopian Textile Industry Development Institute.

According to a study conducted by Central Statistical Agency, most of the apparels and textiles manufactured in Ethiopia are sold locally.

Most of the apparel and textile production goes to the local market as it generates more revenue than the export market and is therefore more attractive.

Sileshi said that it therefore becomes very important to improve incentive schemes so as to encourage manufacturers to focus on export market.

In the last few years, Ethiopian textile exports had generated US $ 120 million, which was less than the projected target.

Sileshi said that for the current budget year, the Development Institute intends to earn US $ 240 million from textile exports, which will be double of what it was in 2017-2018 budget year.

He also said that lot of industrial parks continue to come up in Ethiopia in order to attract lot of textile companies. Like recently, on 7 October 2018, Adama industrial park was inaugurated by Prime Minister Abiy Ahmed, in the same context.



Categories: Africa, Business, Ethiopia, Textile, USA

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