Promoting Investment Opportunities in Ethiopia’s Cotton, Textiles and Apparel Sector to Indian business
(Geneva) A high-level delegation from Ethiopia, led by the honourable Mr. Bogale Feleke, State Minister, Ministry of Industry, arrived in India this morning for a five-day mission to promote investment in his country’s cotton, textiles and apparel sector.
Ethiopia is one of Africa’s fastest growing economies and one of the region’s most attractive destinations for foreign investment.
The country’s textile and clothing industry is burgeoning, aided by the presence of competitive labour costs and a skilled and motivated young workforce. The availability of raw cotton and other natural fibres, as well as preferential access to regional and international markets, create enormous export potential for the sector.
The mission aims to raise Indian investors’ awareness of the opportunities on offer in Ethiopia.
The mission, which includes visits to Delhi, Ahmedabad, Dindigul and Coimbatore, is being facilitated by the International Trade Centre’s Supporting Indian Trade and Investment for Africa project (SITA) with the support of Indian business and industry associations. SITA, which is funded by the United Kingdom’s Department for International Development, has as one of its aims to improve the competitiveness of value chains in a number of East African countries. In Ethiopia, it is supporting the development of the cotton, textile and apparel value chain through partnerships with business and trade and investment support institutions in India. SITA works with the Government of Ethiopia and industry stakeholders to promote investment in the sector and facilitate technology exchange from India.
The delegation will attend a series of workshops in each of the four cities. In Delhi and Ahmedabad, they will be hosted by the Confederation of Indian Industry; in Coimbatore, by the South India Mills Association; and in Dindigul, by the Tamil Nadu Spinning Mills Association.
The workshops will provide a platform for engagement between Indian textile and garment manufacturers and the Ethiopian delegation where they can explore partnerships and opportunities for Indian companies in Ethiopia.
Bilateral meetings will allow members of the Ethiopian delegation and Indian business representatives to delve further into specific opportunities.
“It is my sincere hope that this kind of event will provide opportunities for Indian companies to learn more about the country's conducive investment environment and favourable business opportunities,” said Minister Feleke. “This is a great time for your business to benefit from Ethiopia's expanding investment opportunities.”
Ethiopia aims to become a major sourcing hub for the global textile and garment industry within the next decade.
The International Trade Centre (ITC) is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Global Goals for Sustainable Development. For more information, visit www.intracen.org. Follow ITC on Twitter: @ITCnewsAbout SITA
Supporting Indian Trade and Investment for Africa (SITA), is a South-South trade and investment project that aims to leverage India’s expertise to build trade capacities in African partner countries through the sharing of knowledge, technology and lessons learnt. The project is funded by Government of the United Kingdom of Great Britain and Northern Ireland’s Department for International Development (DFID) and implemented by ITC. The project responds to the challenges that select East African countries – Ethiopia, Kenya, Rwanda, Uganda and the United Republic of Tanzania – face in increasing and diversifying exports. It also addresses trade priorities of the beneficiary countries so they can achieve sustainable development.
For more information visit http://www.intracen.org/sita/ Follow SITA on Twitter: @ITC_SITA
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