Ethiopia invites Indian business people to invest more

Addis Ababa, January 12, 2021 (FBC) -The Federation of Indian Export Organizations (FIEO) yesterday organized a virtual business forum on the topic ‘’Trade and Investment Opportunities between India and Ethiopia- Post COVID-19’’.

Tizita Mulugeta, Ambassador of Ethiopia to India, Robert Shetkintong, Ambassador of India to Ethiopia, Yesuf Ademnur, Secretary General of the Ethiopian Chamber of Commerce and Sectoral Association, invited guests and over 120 Indian business people joined the virtual event.

In her opening remarks, Ambassador Tizita after reminding the strong commercial relation existing between the two countries briefed the Indian business people on the conducive investment opportunities in Ethiopia.

India is the third largest source of FDI and compared to the untapped potential of Ethiopia on various sectors, Indian investors should explore more and take part in the development path of the country, she said.

While speaking on the bilateral trade relations, she stressed on the need to work on enhancing the export of various commodities from Ethiopia to the Indian market and vice versa.

The Embassy of Ethiopia in India will facilitate and support the Indian importers by connecting them with Ethiopian exporters, Ambassador Tizita assured.

Ambassador Robert Shetkintong, stated that the commitment of the Ethiopian government to attract FDI is huge and then requested Indian businesses to invest in areas of information technology, agro-processing, pharmaceuticals, telecom and other potential sectors.

Indian investors who successfully established their presence in Ethiopia have shared their investment experience to the attendees on how Ethiopia is an ideal country to do business.