ADDIS ABABA – The new macro-economic reform would boom the leather industry as it coincided with the rise in global leather market, Ethiopian Leather Industry and Research Development Center indicated.
Center’s Managing Director, Mohammed Hussien told the Ethiopian Press Agency (EPA) that the macroeconomic reform coupled with the spur in the international leather market could contribute hugely for the success of the leather industry.
He said absence of adequate foreign currency remained a challenge in most sectors including leather industry which constrained the nation to benefit as per to its abundant resources. Thus, the reform would put positive impact on addressing the challenge.
Moreover, efforts that are being geared including the discussion that was held with the aim of improving the implementation of 20/80 policy with pertinent stakeholders would also contribute to the growth of the sector, as to him.
The leather industry had not only affected by internal factors, however the external issues such as COVID-19 pandemic and other global crisis have hugely contributed to the failure, he stressed.
“The fact that due emphasis has been given to alleviating the obstacles would help the nation to address major constraints of the sector eventually, ”Mohammed said.
Similarly, the international market is showing promising progress and business has started to get to normal. Thus, the nation aspires to seize the opportunity and perform better through integrated approach, the Manager indicated.
As a result, the center has planned to amass about 68million USD from the leather sector in the coming year. Last year, it was able to gain around 27.7million USD, which is 60percent of the plan.
The institutions that are engaged in selling finished leather products, leather factories, leather glove manufacturers, leather bag producers, medical and beauty input providing factories allowed the nation to attract the aforementioned amount, according to him.
BY BETELHEM BEDLU
THE ETHIOPIAN HERALD SUNDAY EDITION 25 AUGUST 2024
