Ethiopia: Institute Plans to Earn About U.S.$1.3 Billion

Chemical and Construction Inputs Industry Development Institute (CCIIDI) announced that it has planned to earn about 1.3 billion USD from exporting Chemical and Construction products during the coming ten years.

Yonas Abate, Rubber and Plastic Industry Development Directorate Director at the Institute told The Ethiopian Herald the institute has planned to collect about 1.3 billion USD through accomplishing different tasks that can encourage export potential of manufacturers.

As to him, each chemical and construction manufacturing industries across the nation are expected to produce 5 to 10 percent of their product for export trade in order to achieve this goal noting that strengthening Public Private Partnership (PPP) should be also the prior task to be implemented.

Stating lack of surplus product, increasing rate of local market demand, problem of manufacturers in generating foreign exchange and lack of productivity as the basic challenges in the sector, Yonas pointed out that the manufacturers in collaboration with this institute and other stake holders in order to bring successful achievement in import substitution.

As to him, if both the manufacturers and the government work aggressively in increasing export potential of chemical and construction inputs and products, it will be able to reduce the demand of 4.9 billion USD that will be worth for importing similar products during the coming ten years.

By the same token, at the event organized under theme: “Creating Globally Competitive Industries”, Ministry of Trade and Industry Export Trade Development State Minster Ambassador Misganau Arega said that the country should increase its export potential in order to achieve its 2025 SDGs.