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Ethiopia-Korea textile centre opens in Addis Ababa

20
Jul '12
Ethiopia-Korea Textile Cooperation Centre has opened in Addis Ababa, the capital city of Ethiopia.
 
Speaking at the inaugural ceremony, Ethiopia’s Industry Minister Tadesse Haile said the centre would play a vital role in supporting the textile industry and also in achieving technology transfer.
 
He said the new establishment would allow Korea to share its wide experience and thus aid the development of Ethiopia’s textile industry, and also extend support to the private sector to help it raise its competiveness.
 
Textile and apparel sectors lead the list of priority industries recognized as the key drivers of industrialization policy in Ethiopia’s five-year Growth and Transformation Plan (GTP), Mr. Haile said.
 
Korea’s rich and wide-ranging experience in rapid industrialization, especially in development of green industrialization, and the lead role of Government in this regard, would help Ethiopia in realizing the GTP, he said.
 
The domestic textile industry in Ethiopia contributed about US$ 90 million to the country’s economy during the just concluded Ethiopian fiscal year, Mr. Haile said, and added that by end of the GTP period the industry is expected to earn US$ 1 billion from the export market annually.
 
Jae Do Moon, Korean Deputy Minister for International Affairs, Ministry of Knowledge Economy, said Korean assistance on textile front would greatly contribute to sustainable economic growth of Ethiopia. He mentioned that Korea would extend support on the front of textile technology transfer.
 
South Korean Ambassador to Ethiopia, Jong Geun Kim, said the two countries share bilateral trade ties for over past six decades and the inauguration of the centre would further bolster Korea’s existing trade ties with Ethiopia.
 

Fibre2fashion News Desk - India


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