2merkato

Ethiopia obtained 753 Million US dollars in revenue from exports in the first quarter of the current fiscal year. This is a 33% increase on revenue from last year.

The revenue was raised from the export of 275,611 tonnes of produce sent to an estimated 94 countries. A significant percentage of the export revenue, 84 million US dollars, was earned from German exports.

Representatives from four Swedish companies are scheduled to visit Ethiopian textile factories. The delegation will visit the factories in Addis Ababa and Tigray for three days starting from the 2nd of November.

The representatives will visit the Ethiopian factories with a view towards finding textile suppliers and to purchase cotton garments according to Madeline Rosberg Chief Executive of Responsify AB, in charge of organizing the Swedish trade trip.

CLC Industries Plc will harvest cotton from the first 2,500 hectares in Ethiopia next month. The Indian company will use the cotton as raw material for the textile spinning plant it is establishing in Kombolcha.

The construction of the textile company at an investment of 70 million dollars will begin this month according to Markos Terfa company liaison officer.

The Ethiopian government has announced plans to begin construction on a new fertilizer factory in Oromia Regional State, in two weeks. The new factory will be constructed by the Ethiopian Metal and Engineering Corporation.

The Coal Phosphate Fertilizer Project Office has been studying the feasibility of a fertilizer factory in the area for over ten years. Studies in socio-economic, environmental and geological impact were conducted in association with Chinese companies including China National Complete Plant Import and Export Corporation (COMPLIANT) and Ging Sion Explorer.