Ethiopia and India aiming to strengthen its ties recently signed various partnership agreements, which were signed in Ethiopia’s capital Addis Ababa by visiting Indian President Ram Nath Kovind and Ethiopian President Mulatu Teshome, includes agreements in textile and garment sector.
Over 584 Indian companies have invested over $2 bn in Ethiopia’s various areas, including textile and garments, education, technology, among other sectors. Kovind, who is the first Indian President to visit Ethiopia in over 45 years, discussed various bilateral and multilateral issues with senior Ethiopian Government officials and met the Indian community in Ethiopia. A 30-member Indian business delegation comprising of representatives from different industries has also accompanied the visiting Indian President to Ethiopia.
According to the Ethiopian Ministry of Foreign Affairs, the trade and economic relation between the two countries has witnessed an increase during the past years and the opening of Indian Export Import (EXIM) Bank East African branch in Addis Ababa back in 2010 has further propelled investment conditions for Indian investors to invest in Ethiopia