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.
Being hopeful for the good opportunity for Ethiopia in joining Africa Free Trade Area (AfFTA) and World Trade Organization (WTO), he noted that the private sectors should be an engine for sustaining the nation’s goal to be center of excellence in Africa through stimulating the economy.
Appreciating the event for its new idea and plan, Tihitina Legesse, Managing Director of WARYT Mulutila International PLC for her part explained that her office is working ardently in order to bring successful achievement in exporting furniture goods for African countries first and Asian and others in process.
She questioned the government to support the manufacturers through generating and applying synergized policy that offers different incentives including; reducing interest rate and surtax for local manufacturers.
With regard to the manufacturer’s quest and idea, Samuel Halala, Director-General of CCIIDI elucidated that issues related with electricity, tax rate, tax holyday and manufacturing area will be solved soon. He also calls regional heads to bring lists and problems of the manufacturers in their region in order to support them.