Ethiopia, India holds “Business Dialogue”
Eying on the increased cooperation in trade and investments between Ethiopia and India, high level officials and business people of the two countries held "Business Dialogue" today (October 5, 2017). President Mulatu and President Kovind attended the forum where a 30-member business delegation and representatives from different Indian industries has accompanied President Kovind during the dialogue.
Noting that Ethiopia attaches greater importance to the relations with India, President Mulatu in his remark underscored that such business dialogues are significant in identifying actions the two governments could take to further facilitate investments and trade. President Kovind on his part said the business dialogue has helped the Indian side in bridging gaps between our business communities– be it in the realm of visa policies, banking procedures and laws, or customs regulations and practices.
On the occasion, State Minister for Foreign Affairs, Dr. Aklilu Hailemichael noted that with the prevalence of investor friendly policy in Ethiopia, investment flow from India to Ethiopia has steadily been increasing. He added, as of 2015 and 2016, the number of Indian investors in Ethiopia was 546 with licensed investment of over US$ 4 billion of which about US$ 2 billion is estimated to be on the ground. He also noted that India's contributions to Ethiopia's development efforts encompass a wide range of areas from technological and skill transfers to infrastructure development; from trade and investment to financial support and cultural development.
During the event Dr. Mabratu Meles, State Minister of Ministry of Industry and Indian Innovators have also made presentations on investment opportunities & Agro- Industrial Parks in Ethiopia.