2merkato

Deloitte Consulting Ltd. has formed a collaborative venture with HST consulting plc, a local firm to enter the market in Ethiopia.

The partnership was registered with a capital of 1.1 million birr Deloitte is expected to offer management consultancy, senior management training services, and tax advisory.

The two companies took about a year in discussions as Deloitte studied the market potential in Ethiopia according to a senior partner with HAST consulting plc.

Ethiopia lifted the almost year long ban on the export of raw cotton in view of the increase in production this year according to sources.

The decision was passed after a meeting between Mekonnen Manyazewal, Minister of Industry and Tefera Derbew, Minister of Agriculture and representatives from the textile industry last week.

The meeting followed a complaint received by the government from cotton growers who pointed out to excess cotton stored in their warehouses with textile factories purchasing less than the expected quantities.

The significant economic growth shown by Ethiopia over the last two years will help the Word Trade Organization membership process according to Pascal Lamy Director General of the WTO.

Population size is a WTO requirement which Ethiopia has been able to meet noted Lamy in a meeting held in Addis Ababa last week.

The WTO can offer support in addressing issues related to the quality of products and service said Mulu Solomon, President of the Ethiopian Chamber of Commerce and Sectoral Associations.

Ethiopia earned near to 44 million US dollars from the export of textile and textile products in the last two quarters said the Ethiopian Textile Industry Development Institute.

The revenue earned from textile exports in the last two quarters exceeded the amount collected in the same period of the previous fiscal year by almost 23 million US dollars according to Sileshi Lemma Director General of the textile development institute.