A high level business delegation from India made a visit to Addis Ababa last week. The delegation included representatives from 23 businesses many of whom were from the commercial capital of India, Mumbai.
Most of the businesses represented seem to be interested in capital intensive long term investment in a range of sectors such as sugar, energy, and mining.
The visit from the business delegation was organized through the Ethiopian Consulate in Mumbai.
Ethiopia shares the model of the Indian export driven economic strategy especially in light of the similar socio0economic and cultural settings shared by the two countries said Mulu Solomon, President of the Ethiopian Chamber of Commerce, and Sectoral Association.
The chamber has signed a Memorandum of Understanding with various Indian chambers as part of its effort to enhance the investment and trade relations between the two countries she said.The delegation is part of a larger aim to create connecting links between the two most significant emerging markets, Africa and India which together have a population of 2 billion said Sunanda Rajendran, Secretary General of India- African Chamber of Commerce and Industries.
It was noted that Ethiopia is enjoying a significant amount of Foreign Direct Investment from India in range of economic sectors including commercial farming, manufacturing and education.
Source: Capital
