Home / Knowledge / News / Textiles / Ethiopia aims for $30 bn forex from textiles by 2030
Ethiopia aims for $30 bn forex from textiles by 2030
24
Jul '17
Ethiopia aims to generate $30 bn in foreign exchange earnings from the textiles and clothing sector by 2030, according to Ethiopian state minister of industry Bogale Feleke. Ethiopia, one of the fastest growing economies of Africa, is on the constant effort to increase its cotton production. In a year, Ethiopia produces around one lakh tonnes of cotton.

"We intend to increase our area of cotton production. At present, only 20 per cent of three million hectare is used for cotton production while we aim to increase to around 80 per cent," said Feleke.

Ethiopia has nearly 175 textile units. Now, it is seeking India's investment in its textiles industry. It is increasing investment scope with the provision of power and labour at an affordable price, said Feleke while speaking at the workshop on investment opportunities in Ethiopian textiles. The workshop was hosted by Ethiopian Investment Promotion and International Trade Centre and The Southern India Mills' Association.

With a workforce of more than forty-seven million, the country offers a large supply of valuable human resources at affordable wages. With the growing population, Ethiopia is striving hard to generate employment opportunities. By 2020, we intend to have around 150 companies in textiles, said Feleke adding that Ethiopia is in the process of developing 13 industrial parks.

After Vietnam, Ethiopia is the second largest country to attract foreign direct investment in textiles, according to World Investment report 2016. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

US & EU retailers release industry approach to GDPR

Apparel/Garments | On 24th May 2018

US & EU retailers release industry approach to GDPR

The Washington, D.C.-based National Retail Federation and...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search