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Ethio-Indian Economic Forum opens in Addis Ababa

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Addis Ababa, October 24, 2018 (FBC) – The Ethio-Indian Economic Forum which aimed at boosting trade and investment ties between the two countries today opened in Addis Ababa at the Dreamliner Hotel.

The forum, which was co-organized by Ethiopian Consulate General office in Mumbai and Ethiopian Chamber of Commerce and Sectoral Association (ECCSA) and Jain International Trade Organization (JITO), brought together 40 Indian companies and over 80 Ethiopian.

Opening the forum, Director General of Business Diplomacy at the Ministry of Foreign Affairs, Mr. Mesfin Gebremariam said Ethiopia and India have a longstanding diplomatic relations which he said, dated back to 1950.

He underlined the need to further strengthen the bilateral ties between the two countries in areas of investment, trade and capacity building.

Mesfin said Ethiopia has registered a double-digit economic growth for the last 12 years due to its huge investment in infrastructure and a sustained push for industrialization.

Ethiopia, he said, would offer huge domestic and international markets much due to the fact that Ethiopia is the second most populous nation in Africa and a country with vibrant aviation industry.

Mentioning that the Ethiopia has embarked on the development of industrial parks in different parts of the country, Mesfin urged the Indian investors to invest in the priority sectors of the country, particularly in areas such as textile and garment manufacturing, pharmaceuticals, renewable energy, construction and agro-processing sectors.

According to him, the forum will create opportunities to deepen trade and investment ties between the two countries.

Secretary of JITO Nashik Chapter Mr. Satish Hiran, said his Organization is a worldwide group of businessmen, industrialists, knowledge workers and professionals reflecting the glory of ethical business practices.

Commending the Ethiopian Consul General in Mumbai for the facilitation of the visit of JITO to Ethiopia, he added that the forum is a viable platform to enhance the trade and investment ties between the two countries.
Source: MFA