The Ethio-Indian Economic Forum which aimed at boosting trade and investment ties between the two countries opened in Addis Ababa, at Dreamliner Hotel on Wednesday (October 24). The forum which was co-organized by Ethiopian Consulate General office in Mumbai and Ethiopian Chamber of Commerce and Sectoral Association (ECCSA) and Jain International Trade Organization(JITO) brought together 40 Indian Companies and over 80 Ethiopian Companies.
Opening the forum, Director General of Business Diplomacy at the Ministry of Foreign Affairs, Mr. Mesfin G/mariam, noted that Ethiopia and India have a longstanding diplomatic relations which he said, dated back to 1950. He underlined the need to further strengthen the bilateral ties between the two countries in areas of investment, trade and capacity building.
Mesfin said that Ethiopia had registered double-digit economic growth for the last 12 years and this had been due to its huge investment in infrastructure and a sustained push for industrialization. Ethiopia, he said, would offer huge domestic and international markets much due to the fact that Ethiopia is the second most populous nation in Africa and a country with vibrant aviation industry. Mentioning that the Government of Ethiopia had embarked on the development of industrial parks in different parts of the country, Mesfin urged the Indian investors to invest in the priority sectors of the country, particularly in areas such as textile and garment manufacturing, pharmaceuticals, renewable energy, construction and agro-processing sectors. This business forum would create opportunities to deepen trade and investment ties between the two countries, he added.
Secretary of Jain International Trade Organization Nashik Chapter Mr. Satish Hiran, said JITO was a worldwide organization of businessmen, industrialists, knowledge workers and professionals reflecting the glory of ethical business practices. Commending the Ethiopian Consul General in Mumbai for the facilitation of the visit of JITO to Ethiopia, he added that the forum was a viable platform to enhance the trade and investment ties between the two countries.
Source: Ministry of Foreign Affairs’ Official Website
