Award Winning Exporters Optimistic about Scaling Up Performance This Eth Fiscal Year

Addis Ababa July 23/2022/ENA/ Award Winning export companies have expressed optimism about further scaling up their exports this Ethiopian Fiscal Year.

In total, Ethiopia has secured 4.12 billion USD from export trade in the just concluded fiscal year.

In connection with the Exporters Day organized by Ministry of Trade and Regional Integration,  the best exporters were awarded at a ceremony held at Skylight Hotel yesterday evening.

Among the export companies that have registered best performances in the budget year was Shints ETP Garment PLC, a South Korean company engaged in exporting textiles.

Speaking to ENA, Shints ETP Garment PLC Vice President Harry Choi said his company has generated 12 million US Dollar during the last Ethiopian budget year.

His company has shown 17 percent increment in income when compared with the performance of the same period last year, he stated, adding that the company has a plan to scale up the performance by investing on the factory and businesses.

The company has been exporting garment to the US, but moved its market to European and Asian countries since AGOA suspension, he said.

Vice President Choi underscored that he is optimistic and positive about scaling up export in 2022/2023 since his company is expanding to reach new international market opportunities.

“There are a lot of support from the Ethiopian government, and we have a good opportunity to develop additional markets in European and Asian countries.”

The other company, which registered best performance in exporting mainly coffee to the international market, is Kerchanshe Trading PLC.

The company has generated 101.32 million USD during the last fiscal year.

Kerchanshe Trading PLC Commercial Manager, Mulugeta Kebede told ENA that his company has created jobs for over 5,000 citizens besides generating hard currency to the country.

According to him, Coffee and Tea Authority, Ethiopian Customs Commission, and Ministry of Trade and Regional Integration are among the pertinent government agencies that played crucial role in supporting the company to register top performance in the year.

However, he noted that there are obstacles which should be removed.

The commercial manager added that Kerchanshe Trading PLC will continue to scale up the success it has achieved in the present Ethiopian fiscal year by expanding coffee export infrastructures and reaching new international markets.