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Turkish dyes producer Eksoy sets up warehouse in Ethiopia
08
Sep '14
Eksoy Chemical Industries Ltd, Turkish chemicals producer is the second dyes and chemical supplier to empanel for a bonded warehouse scheme to supply these products to the Ethiopian textile sector.

This scheme which was initiated by the Ethiopian government three years back, is available for chemical manufacturers outside Ethiopia, a report from Addis Fortune said.

The dyes and chemicals are stored in a bonded warehouse and as when Eksoy receives an order, these products will be sold on payment of customs duty.

Under the scheme, Eksoy gets a period of between 2-5 years to test market its products, after which it sets up a production plant or leaves the country.

The first company to sign up for the program was Switzerland based Bezema Dyestuffs & Chemicals, a Swiss based company in September 2012.

Eksoy has met all the requirements to be licensed by the Ethiopian Revenue & Customs Authority (ERCA), which is basically the last requirement to begin distribution.

It has renovated a 1,000 sq. meters warehouse leased around Kality, as per specifications of ERCA, which too has a stake in the products stored in the warehouses. (AR)

Fibre2fashion News Desk - India


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