Textile & garment sector posts a fair growth

25 Jun '08

1 min read

The Ethiopian Textile and Garment Producers Association has reported an annual growth of 28 percent especially from increasing exports to Europe, the US and Africa.

In order to give a further boost to the industry, the Government has started providing a slew of incentives such as tax free import of raw materials and easy availability of loans to cover their cost of production.

These motivating factors would not only make the sector more competitive in the international market but will also ensure a consistent flow of foreign revenues into the domestic market.

Revenues from the sector have been low despite a steady growth, but the Government is optimistic that by 2010, the textile and garment industry will be in a position to secure US $500 million against $12.6 million obtained last year.

Market study has shown that the present system of production and the existing manpower is quite self-sustaining. However, the fault lies with the producers who fail to seize the many opportunities available in various countries.