ETHIOPIA – Ethiopia has inked a significant EUR 10.6 million (USD 11.5 million) grant agreement with the Kingdom of the Netherlands for the first phase of the Cool Port Addis project.
This collaboration, signed on February 28, 2024, is poised to address bottlenecks hindering Ethiopia’s horticultural potential.
The grant will bolster the Cool Port Addis initiative within the Modjo Green Logistics, serving as a comprehensive solution to enhance logistical processes across the avocado value chain and other fruits and vegetables.
The Netherlands, a vital economic partner, stands among Ethiopia’s top ten contributors to Foreign Direct Investment (FDI) and serves as a key export destination for Ethiopian products.
MoF State Minister H.E. Semereta Sewasew and H.E. Henk Jan Bakker, the ambassador of the Kingdom of the Netherlands to Ethiopia, formalized the grant arrangement in the presence of H.E. Dr. Alemu Sime, Minister of Transport and Logistics, along with various stakeholders from both nations.
The Cool Port Addis Project I aligns with Ethiopia’s strategic vision to unlock the full potential of its horticultural sector.
The grant is a testament to the longstanding partnership between Ethiopia and the Netherlands, aiming to create sustainable solutions that benefit both nations.
Meanwhile, Ethiopia’s horticultural exports have seen an exponential growth reporting a noteworthy achievement in the sector.
In the first quarter of the current fiscal year, exports of flowers, vegetables, and fruits yielded over USD 169.5 million, achieving 63.1 percent of the set target, according to the Ministry of Agriculture.
Horticulture Export Coordinator Mekonnen Solomon highlighted that the impressive sum was derived from exporting 96,443.36 tons of flowers, vegetables, and fruits during the reported period.
Cut flowers dominated the export portfolio, contributing over 146.26 USD in revenue from the global market, with 30,922.69 tons exported.
Additionally, the vegetable sub-sector raked in 17.2 million USD from exporting 58,340.40 tons, while the fruit sub-sector secured approximately 6.12 million USD from 14,823.99 tons of exports.
The ministry’s ambitious plan for the fiscal year targets generating 741.8 million USD from exporting 351,030,031.71 kg of flowers, vegetables, and fruits.
Mekonnen emphasized ongoing collaborative efforts to maintain the desired quality and attractive packaging, ensuring Ethiopia’s competitiveness in the global market.
The Ethiopian government’s commitment to promoting the horticulture sector includes strategic measures such as attracting private investments, providing export incentives, customs duty exemptions, income tax holidays, and offering land at competitive lease prices.
These initiatives underscore the nation’s dedication to fostering sustainable growth and global competitiveness in the horticultural domain.
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