Ethiopia plans to achieve 20 to 25 percent annual export growth

Ethiopia's Trade and Industry Minister Girma Birru said Wednesday that necessary activities will be undertaken to enable the country's export trade register an annual growth of 20 to 25 percent.

Ethiopia will establish 191 textile and garment factories 74 new shoe factories over the coming five years, with the export of textiles and garment alone being expected to earn 500 million U.S. dollars at the end of the five-year term.

The Horn of Africa country will encourage the development of the private sector, boost sugar and cement production in the country.

The total volume of cement production is expected to grow by 295 percent from the current capacity of 1.6 million tons, the minister said when presenting his ministry's five-year plan to the Lower House of People's Representatives.

Significant attention will continue to be given to the floriculture sector, the minister said, adding that activities will be carried out to cover 2,000 hectares of land with green house.

Source: Xinhua