Business-to-business meeting aimed to further strengthen multi-faceted business between India and Ethiopia was held in Addis Ababa between the Ethiopian Chamber of Commerce and Sectorial Associations (ECCSA) and Confederation of Indian Industries (CII).

On the occasion President of ECCSA, Solomon Afework, noted there is a significant growth in the trade and investment relationship of the two countries. He reminded the total trade turnover reached U.S $ 1.3 Billion in 2013.

There is a significant expansion in Indian investment in Ethiopia, Solomon said. License was issued for Indian investors for 365 projects in different sectors with a registered capital of over 43 Billion Birr from the year 1992 to 2012.

According to the President, Indian companies have invested in 180 projects over these 20 years which created permanent job opportunities for 33,000 people and 237,000 temporary job opportunities.

Subramanian Venkataraman, Delegation Head of the Confederation of Indian Industries, on his part said the delegation he came leading includes senior representatives of Indian companies in sectors like engineering, construction, agriculture and allied services, finance, IT training and consumer goods.

Venkataraman furthered, the aim of the delegation is to further the economic engagement between the two nations.

The delegation head also said it is his hope the visit will enable the delegation to gain important insight into the current trade and investment and also establish business bonds for further business development.

Source: Ethiopian News Agency