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Industry News | Time:Jul 17 2017 3:16PM
H&M plans to enter Ethiopian textile industry
 
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A lot of Swedish companies including the global Swedish clothing manufacturing company H&M has keen interest to enter the growing manufacturing sector, textile industry in Ethiopia, said the outgoing Swedish Ambassador Jan Sadek.

Sweden also seeks to increase its economic ties with Ethiopia.

This hopefully will be important in terms of raising hard currency, catalyzing the industrial development of Ethiopia and in creating massive jobs. These opportunities further enhance the two countries economic cooperation, according to the Ambassador.

The bilateral relations between the two countries started in the mid-19th century when Swedish Missionaries had come to Ethiopia.

Ethiopia and Sweden have many global issues to hold-on actively including the climate change, migration and global peace and security affairs, Ambassador Sadek mentioned.

As both Ethiopia and Sweden are currently non-permanent members of the United Nations Security Council ( UNSC), it is the right time to act jointly in the global arena to promoting climate smart economy, peace and stability.

According to National Palace Protocol Affairs Head Ashebir Getnet, Swedish government has approved a development cooperation to Ethiopia worth for a billion Krone spanned from 2016-2020.

Currently, the bilateral relationship is hiking to investment and common global concerns.

Source: YNFX



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