ITME Africa 2020 Opens In Addis Ababa

 

Addis Ababa, February 14, 2020 (FBC) -The International Textile Machinery and Engineering Exhibition (ITME-Africa 2020) was officially opened today.

The three-day event was opened in Addis Ababa at the Millennium Hall in the presence of senior government dignitaries from India and Ethiopia, business representatives from various countries and company owners.

The event was organized by the Indian ITME Society in partnership with the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) under the theme: “Prosperity for Africa through Textile Technology.”

The exhibition is aimed at initiating a revolution in technology upgrading entrepreneurship and investments in textiles across the region and beyond.

It was also reported that the event anticipates being instrumental in establishing Africa’s textile footprints prominently across the globe, according to ECCSA.

India’s total trade with Ethiopia stood at $1.27 billion in 2017-18, out of which India’s exports to Ethiopia were $1.22 billion and imports were $45 million, according to the National Bank of Ethiopia annual report.

India is the 2nd largest investment partner of Ethiopia with an approved investment of more than $4 billion, it was learned.

More than 100 exhibitors from 15 African, Asian and European countries showcased their products.

The next two days are said to be reserved for Technology seminar, B2B meetings, financial solutions, Cultural programs, and networking dinner to facilitate the maximum opportunity for participants.

Feb 14, 2020

Source: - Fana broadcasting corporate

Ethiopia, Turkey Working to Boost Trade Exchange by Half-billion USD:

Ambassador Alp

 

ENA, February 13/2020 Ethiopia and Turkey are working to boost their trade exchange from half-billion to 1 billion USD in a year, Turkey’s Ambassador to Ethiopia Alp said.

In an exclusive interview with ENA, Ambassador Yaprak Alp said the relationship between the two countries has been showing tremendous improvement, particularly the trade relationship.

Though the “trade relationship is growing very fast, our goal is to reach 1 billion U.S dollar annually. This is the target of both Turkish and Ethiopian governments,” she revealed.

According to her, the government of Turkey is encouraging Ethiopian export and inviting anchor Turkish companies to invest in Ethiopia.

“The Government of Turkey has decided that Ethiopia be a target country for trade and investment. That is very important because Turkish potential investors are aided to come here and invest in Ethiopia. So that would be a major step forward that will have a significant boost in trade and investment,” the ambassador elaborated.

She noted that Ethiopian Airlines is one of the drivers of trade relationship as it operates daily direct flight to Istanbul, Turkey’s major city.

“Our investment is huge in Ethiopia. It is the first and the only Sub-Saharan country in which Turks invest 2.5 billion USD dollars,” Ambassador Alp said.

Turkish companies are highly engaged in textile, shoes, cable, beverage as well as infrastructure sector investment.

The number of Turkish firms investing in Ethiopia has reached about 200 and employment created by the firms reached approximately 20,000, according to the Turkish Ministry of Foreign Affairs.

Ethiopia and Turkey established diplomatic relations in 1896.

February 13, 2020

Source:-

Ethiopia Earns Over $1.3 billion from Export in Half Year

 

Addis Ababa, January 29, 2020 (FBC) – Ethiopia has secured $1.33 billion in revenue from export in the first half of this fiscal year, achieving 80% of its target.

Wondimu Filate, Public Relations and Communication Director at the Ministry of Trade and Industry (MoTI) said the revenue increased by 10% to $1.33 from $1.21 billion the same period the previous year.

However, the country missed the target of earning $1.66 billion, Wondimu told journalists today.

The revenue was generated from coffee, oilseed, spice, flower, cereal, textile, chat, live animals exported to different countries.

Jan 29, 2020

Source:-Fana Broadcasting Corporate

Ethiopian Business Forum Seeks To Attract Qatari FDI, Says Envoy

Addis Ababa, January 28, 2020 (FBC) -The Ethiopian Embassy in Qatar will be holding the ‘Ethiopian Business Forum’ (EBF 2020) on February 3 at the Millennium Hotel in Doha.

Ambassador of Ethiopia to Qatar, Samia Zekaria told the Gulf Times that the forum will be organized in collaboration with Qatari company, KON.

She said the forum is expected to gather leading businesses and Qatari investors during the one-day event. EBF 2020 will be a bilateral business, investment, and trade forum between Qatar and Ethiopia.

The event also aims to facilitate the exchange of ideas, experience, business potential, culture, and other relevant corporations, she noted.

According to the ambassador, the participants will be briefed on the business and investment opportunities available in Ethiopia.

She said a high-level delegation representing the Ethiopian public and private sectors will be at the forum to brief the participants on potential strategic partnerships in the following sectors: agriculture, agro-processing, manufacturing, mining, pharmaceuticals, and industrial, among others.

January 28, 2020

Source:-Fana Broadcasting Corporate

Eritrean President Visits Adama Industrial Park

 

ENA, December 26/2019 Eritrean President, Isaias Afewerki, on his second day in Ethiopia visited Adama Industrial Park today.

Upon arrival in Adama city, the president accorded a warm welcome by Deputy Chief Administrator of Oromia Regional State, Shimelis Abdisa, and other senior regional officials.

Adama Industrial park is situated in Adama city, Oromia Regional State, which is about 100 kilometers southeast of Addis Ababa.

The park is one of the giant industrial parks that Ethiopia has been building across the nation over the past few years.

The scope of the Park is textile, apparel, vehicle assembly, and food processing cluster.

It is to be recalled President Isaias also visited yesterday together with Prime Minister Abiy the beautifying Sheger project and Entoto observatory and research center.

Source: - ENA

Forum Held in China to Promote Ethiopia’s Industrial Parks

ENA, December 26/2019 Ethiopia Investment Commission and the Industrial Park Development Corporation in association with Ethiopia’s Mission in China held an investment promotion forum in Beijing, China.

The forum was held on Tuesday under the theme “Ethiopian Industrial Production Capacity Forum”, according to Ethiopian Embassy in China.

The forum aimed at promoting the industrial parks in Ethiopia to Chinese potential investors in order to facilitate them to explore investment opportunities in the country.

It was mainly organized to introduce Bole Lemi II and Klinto Industrial Park to prospective investors from China and attract Foreign Direct Investment in the fields of Pharmaceuticals and Textile.

Ethiopia with a plan to be the leading manufacturing hub of Africa by 2025, has about 12 industrial parks, over 7 are operating while the rest are under construction.

China-Ethiopia Industrial Exhibition was also held two months ago in Addis Ababa Exhibition Center, to enhance cooperation and building the capacity of Ethiopian industrialists by creating a platform through which Chinese entrepreneurs and their counterparts could exchange business ideas.

Source: - ENA

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