China to help Ethiopian textile industry grow

摘要

Ethiopian president mulatu Teshome has said that China will invest in the country's textile industry, China Daily reported. Teshome said that China is helping Ethiopia transform its economy, especially through investment in the manufacturing sector. The President added that Ethiopia, along with other African countries, can attract a significant portion of the 80mn manufacturing jobs that China is likely to shed over the next few years, owing to the rising labour costs. He said once the Chinese textile and garment factories are fully integrated into the the economy, the products manufactured would be labeled as Ethiopian. Through manufacturing success, Ethiopia can become a middle-income country, he added.