BusinessNews

Embassy Promotes Ethiopia’s Leather Sector to Chinese Firms

ADDIS ABABA – The Ethiopian Embassy in Beijing held a virtual forum to promote the Ethiopian leather sector to Chinese companies on August 25, 2022.

The Embassy collaborated with the Leather Industry Association and Chamber of International Commerce Membership Department of China to organize the forum.

Ambassador Teshome Toga told the Chinese firms that since the start of the China-Africa partnership in 2000, China has been a leading source of FDI and a major trading partner for Ethiopia.

Though the trade balance is in favor of China, Teshome said Ethiopia’s exports to China in the 2021 fiscal year grew by eight percent compared to the previous year.

According to him, Ethiopia exports sesame, coffee, soya beans, mung beans, spices, pulses, and a few industrial products such as finished leather to China.

Noting that Ethiopia is the first livestock producer in Africa, the Ambassador said, adding leather exports stood at around 130 million USD in 2020.

The government has a clear policy and strategy to grow the leather industry’s annual export to reach above half a billion USD in the coming few years, he added.

The Ambassador recommended that Chinese enterprises buy world-class Ethiopian leather products and enjoy genuine quality.

There is a great opportunity for collaboration between Chinese and Ethiopian leather companies to enhance the investment and trade market, said the director general of the Ethiopian Leather Development Institute.

From the Ethiopian side, the Secretary General of the Ethiopian Leather Industry Association, representatives from ELICO, Ker Ezhi, and George Leather companies, gave a detailed explanation regarding their companies’ potential.

Chairman of the China Leather Industry Association Li Yuzhong, for his part, said that the economic and trade cooperation between China and Ethiopia has good momentum and great potential,

This lays a solid foundation for the cooperation between the two sides in the leather industry, Li said.

China’s leather industry will continue to adhere to the concept of peace, development, cooperation, and mutual benefit, he said, adding that and will build a new pattern for the development of China’s and Ethiopia’s leather industries.

The chairman mentioned working with stakeholders in the leather industry in Ethiopia to jointly work on opportunities and respond to the challenges brought by the development of the two countries industries.