Nation Secures 500 Million USD from Export of Manufactured Goods

Ethiopia has secured 500 million USD from manufactured goods exported during the just concluded Ethiopian fiscal year.

This was disclosed at a meeting Industry Minister Melaku Alebel held with Ethiopian Manufacturing Industries Association to solve the bottlenecks in the sector.

The minister said Ethiopia earned half a million USD from export of various manufactured products during the stated period.

According to him, the revenue exceeded that of last year by 100 Million USD.

Affirming the existence of bottlenecks in the sector, he pointed out that efforts have been exerted to address the problems.

Indicating that most of the problems are associated with the policy frame work, Melaku stated that revision of the policy has been finalized.

Opportunities are also identified for export of industrial products in the 10 year plan.

The minister finally called on private companies to actively engage in the effort to solve the bottlenecks as this cannot be done by the government alone.

The association representatives on their part pointed out the challenges in the sector, including shortage of raw material, foreign currency, skilled manpower, service delivery, and infrastructures, especially power supply.

They stressed that they are unable to produce in full capacity due to these problems.

Source: Ethiopia News Agency