With over 80 years of development, Ethiopia is showing the potential to become Africa’s Textile and Apparel hub. The nation’s textile & apparel industry has transformed from one of the country’s least developed sectors to currently being a fully integrated industry. Moreover, the Government has set a target of generating US $ 30 billion through the textile and apparel sector by 2030 and to establish a foundation for further growth of strategic heavy industries.
To help achieve that target, India ITME Society has organized its ambitious ITME AFRICA 2020 in Addis Ababa which is in close proximity to strategic locations. The Federal Democratic Republic of Ethiopia is considered as one of the best locations due to its excellent climatic and soil conditions for cotton growing. Considering this, Ethiopia offers Strong institutions support, competitive Hydro-Electric power & water supply, Enormous local, regional and international preferential market access and guarantee to investors against non-commercial & political risks, through MIGA, OPIC and other bilateral agreements. Ranked 34th/138 economies for impartial public decision making, Ethiopia offers political stability and committed government along.
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Addis Ababa, being the capital city and on the seat of African Union & United Nations Economic Commission for Africa, offers well developed infrastructure for business events to prosper. The city is Known for its Addis-Djibouti electric powered railway; World class Ethiopian Airlines which flies to 97 international destinations, 36 cargo destinations & 20 domestic destinations; Grand Ethiopian Renaissance Dam (largest Hydroelectric power dam expected to generate additional 6000 MW Electricity once completed); Government Industrial Parks (2 Operational & 7 upcoming) and 4 privately developed Industrial Parks. The Ethiopian population comprises of 54 million active labour force available at competitive wages. Considering the Market factors such as Duty free, quota free access to the USA & EU markets through AGOA and EBA; access to India, Japan, Canada, China, Turkey, Australia and New Zealand covering substantially all export goods from Ethiopia; COMESA membership with preferential market access to regional market of over 400 million people along with its strategic location being in proximity to Middle East, Europe, USA and Asia, Ethiopia is truly a preferred destination for Foreign Direct Investment & emerging hub for Manufacturing in Africa.
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