Ethiopia-India virtual business session held

Addis Ababa, January 30, 2021 (FBC) – The Ethiopian Embassy in New Delhi along with the the Confederation of Indian Industry (CII) organized India-Ethiopia Virtual Business Session yesterday.

State Minister at the Ministry of Trade and Industry of Ethiopia, Ambassador Misganu Arega, Ethiopian Ambassador to India, Tizita Mulugeta, and Indian Ambassador to Ethiopia, Robert Shetkintong, and representatives from the Ethiopian Investment Commission, Tourism Ethiopia, Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) joined the business forum and addressed the attendees.

More than 130 Indian investors and traders together with Ethiopian business people participated in the virtual event.

In his opening remarks, Ambassador Misganu Arega reminded the long aged historical linkages between Ethiopia and India and briefed Indian business firms on the various economic reforms which are undertaken by the Ethiopian government to promote trade and enhance foreign direct investment.

He stressed on the need to enhance the export market through ethical trading by rectifying trade defaults.

Robert Shetkintong, Ambassador of India to Ethiopia also emphasized on the vast investment, trade and tourism potential of Ethiopia and requested Indian business people to invest in the areas of information technology, agro-processing, pharmaceuticals, telecom and other priority sectors.

Ambassador Tizita Mulugeta highlighted the enormous untapped investment, trade and tourism opportunities and the various incentives and support packages provided by the Ethiopian government. Her Excellency underlined the need to work on enhancing the export of commodities from Ethiopia to the Indian market with value addition.

Power point presentation on the investment, trade, and tourism potentials of Ethiopia was delivered to the participants of the webinar by representatives from the Ethiopian Investment Commission, Ethiopian Chambers of Commerce and Sectorial Association and tourism Ethiopia respectively.

Finally, three Indian companies who successfully established presence in Ethiopia namely; Transrail lighting Limited, Allanasons Private Limited and Goyum group India have shared their investment experiences to the attendees on how Ethiopia is an ideal country to do business.