Prated Textiles
Textiles

The International Textile Machinery Exhibition (ITME) Africa 2020, slated to be held in Ethiopia’s capital Addis Ababa in February next year, is set to bring close to 220 international exhibitors from 60 countries in the East African country, organizers disclosed.

“The international exhibition will categorically attract foreign direct investment, technology transfer and other multiple growth effects to Ethiopia’s textile industry,” Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) President, Melaku Ezezew, told reporters late Tuesday.

“The event is a great opportunity for Ethiopia to develop textile technology, where the country has untapped potential and a promising market environment for the sector,” Ezezew added.

The event is expected to open up new opportunities in the textile and textile engineering sectors for the continent through knowledge, skills, and experience sharing on top of the joint venture and investment prospects.

Ethiopia’s textile and garment sector has in recent years witnessed a major growth, supported by the East African country’s ambition in the development of industrial parks across the country.

Ethiopia’s flagship Chinese-built Hawassa Industrial Park, which is considered a model for other industrial parks across Ethiopia, is praised by the Ethiopian government for luring world-class textile and apparel companies to the East African country.

Foreign investment in Ethiopia’s textile industry has risen from 4.5 billion Ethiopian birr (about 150 million U.S. dollars) in 2013-2014 fiscal year to 36.8 billion Ethiopian birr in the 2016-2017 fiscal year, according to figures from the Ethiopian government. Enditem

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