Ethiopia expects over billion US dollar from flower exports

By Tesfa-alem Tekle

December 19, 2007 (ADDIS ABBA) — Ethiopia over the next 5 years will collect 1.4 billion dollar from flower exports. Ethiopia horticulture producers and exporters association disclosed.

Office head ,Tsegaye Abebe said “we have planned an expansion over 4500 hectares of land over the sector from which, 1.4 billion dollar income is expected in the coming 5 years”

Over 100 foreign investors, who currently registered have begun engaging them selves over the sector since the beginning of this month.

“By the end of this year, 125 million dollar foreign currency is expected from flower exports” Tsegaye said adding “the expected income of the year we are in will be 5 folds compared to what was collected last year”

The favorable ground and incentives government created for foreign investors such as, tax free loans, agricultural land provisions with cheap man power and the geography of the nation in collective have invited unexpected number of foreign investors flood to Ethiopia.

The young horticultural investment but promising ,is playing a tremendous role in an efforts Ethiopia is trying to beat up unemployment and poverty across the nation.

Ethiopia’s flower business is booming and could one day overtake coffee, its main export commodity, a leader of the horticultural sector forecasts.

Tsegaye Abebe, chairman of the Ethiopian Horticulture Producers and Exporters Association, says the Horn of Africa nation was currently generating $20 million annually from flower exports, only one tenth of coffee exports.

“But as expansion of farm areas by over 100 existing foreign and local investors is progressing, the total export income from flower is expected to reach $100 million by 2007,” .

Investors from the Netherlands, Germany, India and Israel are mainly engaged over the investment.

(ST)