Addis Ababa, August 19, 2024 (FBC) – The Embassy of India in Addis Ababa in partnership with the Ministry of Agriculture of Ethiopia unveiled a report on market study on Export Opportunities for Oil Seeds, Pulses, Cotton, Gemstones and Coffee from Ethiopia to India.
The report on the market study aims to shed light on the opportunities and mechanisms to addressing the challenges to enhance agriculture exports from Ethiopia to India. It also aims to inspire Ethiopian and Indian Stakeholders to take necessary steps to diversity the trade basket by utilizing Ethiopian sustainable agriculture resources.
In his address at the workshop, Ethiopian Minister of Agriculture, Girma Amente (PhD), stated that the study represents a significant milestone in our commitment to enhancing bilateral trade relations and exploring new economic growth avenues.
“In 2022, Ethiopia’s bilateral trade with India reached an impressive USD 2.8 billion, marking a strong and expanding partnership. However, our exports to India, totaling, USD 80 million, indicate substantial room for growth. This study provides a thorough analysis of Ethiopia’s production and export landscape for key commodities – oilseed, pulses, cotton, and coffee and identifies strategic opportunities to boost our trade performances,” the Minister explained.
“Ethiopia has undertaken significant macroeconomic reforms to foster a more favorable business environment. And also, our newly reformed agricultural policies are aimed at improving productivity, enhancing value chains, and expending market access for framers and producers. Notably, we have liberalized commodity exports, allowing foreign companies to purchase directly from Ethiopian farmers and processors. This policy shift is designed to strengthen our export sector, particularity for oil seeds, pulses, hides, skins and other critical products,” he stated.
The study report serves as a strategic guide for stakeholders, including policymakers, exporters, and investors, to fully harness the potential of this trade partnership. It outlines the potential commodities and products for export and provides detailed analyses of market trends, regulatory requirements, and logistical considerations, according to the Minister.
“I commend the efforts of the team involved in the development of this report and extend my gratitude to all stakeholders who contributed. It is my hope that this document will act as a catalyst for expanding Ethiopia’s agricultural exports to India and fostering a mutually beneficial economic relationship between our two countries,” the Minister said.
As we continue to prioritize the growth and development of our agricultural sector, we remain dedicated to supporting our farmers, promoting sustainable practices, and ensuring the highest standards of quality and safety in our exports. Together, we can build a resilient and dynamic trade relationship that benefits both Ethiopia and India.
Indian Ambassador to Ethiopia, Anil Kumar Rai, for his part, pointed out that the report underscores our shared commitment to fostering stronger economic ties and mutual cooperation between the two nations.
India and Ethiopia share a longstanding and friendly relationship, marked by robust cultural, economic, and trade exchanges. The findings of this report highlight the vast opportunities for expanding bilateral trade between Ethiopia and India, particularly in the agricultural sector, the Ambassador underscored.
“With India’s growing demand for high-quality agricultural products and Ethiopia’s rich agricultural sector, there is a natural synergy that can be harnessed for the benefit of both countries,” Ambassador Anil Kumar Rai added.