From 1 to 4 July, a business and institutional mission organized by Italian Trade Promotion Agency and ACIMIT, the Association of Italian Textile Machinery Manufacturers, will be travelling to Ethiopia. The mission is intended to strengthen contacts between Italy's textile machinery industry and the local textile and garments sector.
Between 2004 and 2010, Ethiopia recorded a GDP growth rate of 11%, ranking among the world's fastest growing economies. In 2012, GDP growth came in at 7%, and is expected to remain at this level for the coming years. The Country's textile and garments industry is one of its essential sectors, employing 20% of the nation's entire workforce, and the Ethiopian government has created a variety of support programs to promote the industry.
In this economic climate, the demand for machinery by local textile manufacturers has grown significantly. Over the past five years, machinery imports to Ethiopia have increased on average by 13% annually. In particular, Italian exports rose 7% annually between 2008 and 2012. The value of Italian exports toward the Ethiopian market amounts to roughly 2 million euros (2012). Italian spinning and finishing machinery are among those most in demand by Ethiopian textile producers.
"Ethiopia is a Country with great prospects that is willing to invest in order to allow its textile sector to continue to grow," explains Raffaella Carabelli, President of ACIMIT. "The goal of this mission is not just to present what our sector has to offer, but to develop a dialogue with the local authorities for a program of long term cooperation".
