Ethiopia-Korea Textile TechnoPark joint venture inaugurated

Addis Ababa, October 21, 2023 (FBC) – The Ethiopia-Korea Textile Techno Park, built by the collaboration of the governments of Ethiopia and Republic of Korea, inaugurated this morning, the Ministry of Industry confirmed.

Minister of State for Industry, Mr. Hasen Mohammed, at the launching ceremony, stated that the two countries have shared friendly relations for decades. He also pointed out that Republic of Korea (alias known as ROK) has been providing the necessary support for development undertakings in Ethiopia.

The Minister of State asserted that the country’s vast human resource and market demand, lack of multiple manufacturing industries, and Ethiopia’s strategic location create a favorable environment for breaking into the African market, and the potential resources in the agricultural production industry make it convenient to engage in the agro-processing sector.

Indicating that experts of Republic of Korea who are skilled in technology, manufacturing industry, energy and infrastructure sector can support Ethiopia’s industrialization, Hasen emphasized the Ethiopian Tamrt (MadeInEthiopia) program will create technology transfer, capacity building and knowledge transfer.

Besides to economic ties, there is a need to strengthen partnership between the two countries in education, culture and people-to-people relations, Mr. Hasan said while emphasizing the importance of preparing a framework that encourages and strengthens the ties between the two countries.

It is stated that Ethiopia-Korea Textile TechnoPark, the joint venture of the two countries, will provide many services, such as a training and laboratory service in the textile and garments sector, as well as a center for generating innovations.