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H&M eyes Ethiopian textile industry

Swedish global clothing maker H&M is looking at entering the growing manufacturing sector in Ethiopia, as Sweden is looking at enhancing its economic ties with Ethiopia. Many Swedish companies were interested in coming to Ethiopia and among them H&M has shown a keen interest in entering the Ethiopian textile industry. The fact that the late athletics legend Abebe Bekila was trained by Swedish experts demonstrates the strong historical ties of the two countries, the Ambassador noted.

This hopefully will be important in terms of raising hard currency, catalysing the industrial development of Ethiopia and in creating massive jobs. Ethiopia and Sweden have many global issues to hold-on actively, including climate change, migration and global peace and security. As Ethiopia and Sweden are currently non-permanent members of the United Nations Security Council (UNSC), they felt that is was the right time to act jointly to promote climate smart economy, peace and stability, globally.

Currently, the bilateral relationship is linked to investment and common global concerns. The Swedish government has approved a development cooperation to Ethiopia valued at a billion Krone during the 2016 to 2020 period.

 
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