Indian financial institution Exim Bank is teaming up with Indian ITME Society, to finance the African Textile Engineering Exhibition with the theme: “Prosperity for Africa through Textile Technology.” It will be held in February next year at the Millennium Hall.
The exhibition will be jointly organized by the Ethiopian Chamber of Commerce and India ITME Society.
The exhibition will showcase access to markets and new opportunities, joint ventures, international exposure, networking, access to finance and leasing.
It will display end solutions for textile, technology and engineering at a competitive price. It will also have a concurrent B2B program.
Govind Venuprasad, who co-coordinates ITC says Africa has unique and exclusive business opportunities and there are opportunities in textiles and textile technology throughout the continent.
More than 200 exhibitors from India, China, Italy, Switzerland, Turkey, South Africa, the United Kingdom, Austria, and Belgium will attend.
“The exhibition offers a huge opportunities for the textile and clothing industry based Ethiopia’s rich heritage and strong economy it has potential to become the Apparel hub of the world,” Hari Shankar, chairman of India ITME society said.
On the sidelines of the event there will be an investment seminar, financial solutions, technology displays and seminars including an industrial park visit.
“Banking institutions and non banking institutions with various financial programs will be available in addition to the Exim Bank of China,” Shanker added.
Teka Gebreyesus, State Minister of Trade and Industry, said the exhibition is timely and essential to make Ethiopia the manufacturing hub of textile and apparel as it links top textile technology firms with African countries.
The event is a high priority because as textiles is one of the key sectors that will bring about structural transformation of the economy, so better textile technology is a key catalysts of economic growth and the modern process,” Melaku Ezezew, President of Ethiopian chamber of commerce and sectoral association said.
ITME Africa 2020 is targeted to bring the table complete solutions to textile industry development in the continent through affordable technology, international exposure, skill development and investment opportunities.
India ITME Society is a non- profit organization founded to support textile technology when there was a shortage of technology some 40 years ago.