Ethiopia plans to generate $240 million from the textile sector in the 2018/19 fiscal year. The country gained $ 110 million, 46 per cent of the expected outcome, in the 2017/18 fiscal year from the sector. According to the Minister of Industry, Bogale Feleke, failure in achieving the plan was caused by lower exports, shortage of cotton, lack of trained manpower, and instability in some parts of the country.

The minister revealed that agreements to release efficient foreign currency in the textile and apparel market have been signed with the National Bank of Ethiopia and Development Bank of Ethiopia. He also informed that the government had developed National Cotton Development Strategy, a 15 years strategy, in order to address cotton shortages. According to the minister, the strategy aims at improving local cotton production and putting Ethiopia at the top of cotton production in Africa.

The Director General of Textile Industry Development Institute, Silesh Lema, stated that maximum efforts are being undertaken to enhance foreign currency earnings from the sector. He said that the institute is doing its best to expand market opportunities and attract potential buyers from the global market.