The Institute Communication Director Banteyihun Gessesse told The Ethiopian Herald that country had planned to earn 165 million USD from textile exports last year,but it had secured 75 million USD. " By the same token ,we exported textile worth 42 million USD in the first half current fiscal year. The goal was to secure 74 million USD ."

 

Explaining the reasons for not meeting the set goal, he cited the decline of global textile demand, lack of capacity , shortage of inputs , and the like.

 

According to Banteyihun , the institute is working aggressively to overcome the challenges through supervising companies, designating expertise and offering training, providing inputs, and creating market link, among others.

 

He added that a number of medium and large textile manufacturing industries are now operating in their full capacity to meet the local and global textile demands. "Apart from generating foreign currency,the textile companies are playing due role in knowledge transformation and technological l advancement ."

 

Currently, there are over 142 local and foreign textile companies in the country. Some 37 industries are also on the way to engage in textile investment, according to Banteyihun.

Source : allafrica.com