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Ethiopia earned over 2.2 billion USD from export of different products during the last nine months, the Ministry of Trade said. Public relation and communication affairs office head with the Ministry, Amakele Yimam told Ethiopian News Agency that the amount was secured from export of 9.63 million tons of different products to 126 countries. Amakele said the amount exceeded by 59.83 million USD that of same period last year.

Ethiopia plans to generate USD 240 million from the textile sector in the 2018/19 fiscal year. The textile and garment sector is a prioritized industrial sector by the government. The sector is expected to offset the country’s hard currency shortage. The country was able to gain USD 110 million, which is 46% of the expected outcome, in the 2017/18 fiscal year from the garment and textile sector. According to the Minister of Industry, Bogale Feleke, the failure in achieving the plan is caused by lower exports, shortage of cotton, lack of trained manpower, and instability in some parts of the country.

The Lagos based W Hospitality Group ranked Ethiopia as the leading country in hotel expansion in East Africa. Details of the survey will be discussed at the Africa Hotel Investment Forum (AHIF) which will be held n Nairobi in October.

The hotel development pipeline in Ethiopia is almost 50% up on last year’s strong figures, with Addis Ababa accounting for 86% of the total, almost 5,000 rooms in 25 hotels. Africa Business Communities reported that there were plans to expand the hotel industry to different cities such as Hawassa, Bahir-Dar, Bishoftu, and Gondar.

Asia Pacific Gold Mining Investment Ltd. announces identification huge graphite potential in western Ethiopia.

The Company has also entered into an agreement with a Canadian Company for exploration and development of its concessions in Western Ethiopia.

Prime Minister Abiy Ahmed announced that China agreed to lengthen the debt repayment period for Addis Ababa-Djibouti cross-border railway. Ethiopia and China held thorough discussions on ways of harmonizing the trade volume between the two countries. In addition, China and Ethiopia agreed on interest rates. They also agreed on finding options which facilitate the shift from loan to development assistance.