The Ethiopia Chemical and Construction Inputs Industry Development Institute (CCIDI) has announced that it intends to bring in at least 1.3 billion USD from the export of chemical and construction materials during the next decade.
Rubber and Plastic Industry Development Directorate Director Yonas Abate told reporters that the institute plans on implementing this plan by encouraging the development of the manufacturers and removing barriers to entry into the export market. Experts estimate that each chemical and construction manufacturing industry has to provide 5 to 10 percent of their products for export for the successful implementation of the goal.
Yonas noted, however, that both manufacturers and the government have to implement aggressive working strategies to increase export potential and reduce import demand for these products. Estimates expect more than 4.9 billion USD in chemical and construction material import to be reduced.
Similarly, Misganaw Arega of the Ministry of Trade and Industry noted the prospects of the upcoming AfCFTA agreement and Ethiopia joining the World Trade Organization for the manufacturing industry’s involvement in the export sector.