Ethiopia Releases Information On Investment In Hunan Leather Industrial Park

The Hunan Provincial Commission of letters and the Ethiopia Embassy in China jointly held the "Hunan Hunan industrial investment docking" in Changsha.

　　 Ethiopia It has released 100 industrial investment projects involving more than 10 industries, including manufacturing, agriculture, mining, service, energy development, chemical medicine, textile and so on. The investment policy and investment environment have been elaborated and answered.

Ethiopia is an important country in Africa. Its economic growth has maintained rapid growth in the past 10 years and has become one of the fastest growing countries in the world economy. According to the world bank's 2012 report, Ethiopia has already possessed global competitive advantage in the light manufacturing sector with its low labor costs and natural resources advantages.

Ethiopia is a common East and South Africa. Market agreement Members of this Council have enabled Ethiopia to enjoy preferential tariffs in more than 20 countries of the organization. Meanwhile, products other than weapons in Ethiopia can enter the European Union, the United States and the Middle East market under the condition of tax exemption and quota free restriction.

China's industrial park built in Ethiopia has also released investment information. The industrial park is built by Jiangsu eternal Investment Co., Ltd., located near Addisababa, capital of Ethiopia. Leatherwear Agricultural products processing, metallurgy, building materials, electrical and mechanical industries.

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It is reported that more than 95% of Ethiopia's clothing imports comply with the AGOA Bill's third country fabric clause, that is, clothing manufacturers are allowed to use yarn and fabrics from any source, and such garments will be exempt from tariff preferences when exported to the United States.

In addition to the US, more and more international retailers, such as h&m, Tesco and Primark, have begun to buy clothing from sub Saharan Africa. In particular, the Swedish fashion giant h&m has been looking for opportunities to make garments in Ethiopia.

Last month, Kaljohn Persson, chief executive of h&m, said: "we have started small scale production in Ethiopia. Now we are mainly looking at the results. If the effect is good, we are very willing to further expand production here."

Another British retailer, Primark, started buying from Ethiopia last year, while Tesco decided to improve the working conditions of local workers and raise their moral standards before purchasing clothing from African countries.

It is reported that there are 60 garment factories, 15 textile factories, 28 leather tanneries and 18 shoe factories in Ethiopia.

In recent years, the export performance of Ethiopia's textile industry has increased year by year, and its average annual growth rate has increased by 51% over the past 6 years. Although its textile and apparel exports are very small in terms of its share of Global trade market, Ethiopia has maintained a sustained high growth rate. Ethiopia's exports increased by more than 50% in 2010 and 2012.

At present, about 40% of the country's total textile and apparel exports to the United States, the remaining 60% are almost sold to the European Union. In addition, Ethiopia has the trend of exporting textile products to Turkey, China and India.