A forum to enhance textile and apparel investment by South Korea in Ethiopia was recently initiated in Addis Ababa. It will strengthen bilateral cooperation and offer a platform for business opportunities. Launching the forum, Ethiopian foreign minister Aklilu Hailemichael said South Korean investors are showing excellent performance in several sectors.
The potential of the Ethiopian textile industry and the economic reforms being undertaken to strengthen the country’s economy by opening up and introducing competition is well known, Korea’s Ambassador to Ethiopia Hoon-min Lim said.
The Ethiopian textile and apparel industry grew at an average rate of 51 per cent in the past six years, according to a news agency report.