Factory Starts Exporting Textile Products
Earns $3 mln from export, plans cotton production on 30,000 ha
Else Addis Industrial Development P.L.C, a textile factory, announced that it had started exporting textile products to different countries around the world.
The first time the company exported its textile products was in March. It exported textile products to the United States, Russia, Ukraine and the Far East countries, Dilek Durular, project coordinator of the company, said.
By forming a joint venture with Albazz Industrial PLC., Falcon Chemicals LLC, a United Arab Emirates based company, has decided to start producing construction chemicals in Ethiopia using local materials.
Food and Agriculture Organization (FAO) provided a USD 50 thousand fund to the Ethiopian Commodity Exchange (ECX) to help the commodity exchange with its wheat trading system and warehouse receipt financing. ECX utilized the fund to launch wheat trading by conducting various activities including drafting agreements, hosting consultation sessions with stakeholders, and preparing education and communication materials.
