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Related Keywords: African Union commission, announce Koreas policy towards Ethiopia and Africa, Ethiopian textile industry, host Korea-Africa Forum, keen to invest in the industrial sector, Korean companies, Korean textile company, make state visit to Ethiopia, operating textile factory, Park Geun hye, South Korean President, through bilateral summit

As Korean companies are keen to invest in the industrial sector of Ethiopia, South Korean President Park Geun-hye has decided to make a State Visit to Ethiopia and the African Union (AU) commission from May 25 to 28, 2016, said the Korean Ambassador.

Ethiopia, the second most populous country in Africa and a leader in the East African region, Korean belief that their cooperation with this country is very crucial, not only bilaterally but also multilaterally, noted the Ambassador.

Related Keywords: cotton production in Ethiopia, duty free import in Ethiopia, Ethiopian export target, Ethiopian Textile exports worth, Ethiopian textile industry, industrial zones in Ethiopia, textile exports

The Ethiopian Textile Industry Development Institute (EDITI) stated that the country’s textile exports for the first half of Ethiopian fiscal year 2015-16 are lagging behind the plan target.

The target was to achieve $60.07 million from textile exports, while only $41.1 million was attained, which is only 70% of the plan, said EDITI.

During the mid of last year, the government revealed ambitious plans to stimulate the sector by offering attractive incentives to investors.

Related Keywords: aided by skilled and highly motivated workforce, apparel industry, economic growth, Ethiopian textile industry, expand and develop cotton plantation, export market ETIDI, international market, undergoing major development

Ethiopian textile industry aided by the availability of a skilled and highly motivated workforce is undergoing major development. This surge has been helped by the country's impressive economic growth over the past years. The country determined to expand and develop cotton plantation and apparel industries in order to realize the national economic development ambition. This can also help the country to benefit from the growing international market since the major target of the government for the industry is the export market.

Related Keywords: ample manufacturing opportunities, Bangladesh of Africa, Ethiopian textile industry, Growth and Transformation Plan, largest manufacturing industry, lion share of employment, priority areas for investment, production of textile and garments, spinning, weaving and finishing of textiles

The textile industry is the largest manufacturing industry in Ethiopia. There are a number of state-owned and private textile and garment factories. The industry contributes the lion-share of employment in the manufacturing sub-sector. Ethiopia is rightly christened as the ‘Bangladesh of Africa’.

Under the Growth and Transformation Plan, “production of textile and garments” besides leather products, cement industry, metal and engineering, chemical, pharmaceuticals and agro-processing are priority areas for investment.

Related Keywords: BDL Group, build textile and garment factory, Chinese textile company, Ethiopian textile industry, influx of investment, Kingdom Holdings Ltd, manufacturing sector, multinational textile company, textile/fashion business

Ethiopia, Africa’s second most populous nation with the growing influx of investment in its textile business will enhance the country’s efforts to improve local companies engaged in the manufacturing sector.

While The Economist projects an annual growth of 7 to 8 percent through 2016 for the country, Ethiopia’s Government Growth and Transformation plan places growth rates of at least 11.2 percent per annum during a decade long period it set to achieve a middle-income status.

Related Keywords: build domestic industry, Ethiopian textile industry, H&M, social and environmental standard, sustainable production, Swedfund, unique cooperation

H&M has entered into partnership with Swedfund to create a unique cooperation in Ethiopia which aims to contribute to the development of a responsible Ethiopian textile industry characterized by both high social and environmental standards.

The cooperation sees opportunity to get involved in Ethiopia's growing textile industry at an early stage and to contribute to more jobs. They have for many years worked in existing manufacturing countries to improve working conditions and the environment. This experience is included with the establishment of cooperation with Ethiopian suppliers,

Related Keywords: ECCSA, Embassy of India, Ethiopian textile industry, FDI, India and Ethiopia, Indian investors, Indian textile companies, Indian textile exhibition, MMF textile, The Synthetic and Rayon Textiles Promotion Council

A two days exhibition of Indian textiles was held to strengthen the trade between India and Ethiopia at the Sheraton Addis Hotel where 20 Indian textile companies participated in the exhibition by displaying their products for buyers.

The event was organized by Ethiopian Chamber of Commerce and Sectorial Association (ECCSA) along with Embassy of India and the Synthetic and Rayon Textiles Promotion Council and it was opened on Wednesday, August 13, 2014.

Related Keywords: Ethiopian textile industry

Ethiopia as a land of immense resources, growth and investment opportunity. It grows some of the world's finest cotton and has a rich textile spinning and weaving history. Moreover, the government has put several incentives in place, a priority given towards developing the textile and clothing industry across the value chain, a viable business environment and duty free market access to US and EU, yet its importance on a global scale remains inconsequential.

Related Keywords: Ethiopian textile industry

Ethiopia has been completely ignored, albeit its textile and clothing industries are ready for development and the Ethiopian government is keen to encourage investment and export growth in this industry. The Ethiopian President Mulatu Teshome in January has called Chinese clothing and textile companies to invest in his country as China needs to keep its production costs down for its textile industry to be globally competitive.