India, Ethiopia sign agreements on trade, communication

India and Ethiopia have signed agreements on trade, communication and media to boost bilateral ties. The agreements were signed after wide ranging talks between President Ram Nath Kovind and his Ethiopian counterpart Mulatu Teshome at Addis Ababa in Ethiopia.

The agreement was signed during President Ram Nath Kovind’s second leg of his maiden visit abroad to Djibouti and Ethiopia

Singed Agreements

  • Trade Agreement
  • Agreement in field of Information, Communication and Media.

India-Ethiopia Relations

Bilateral partnership between India and Ethiopia rests on civilizational ties and cultural bonds. Historical linkages between both countries go back about 2,000 years of recorded history. India is amongst top trade, investment and development partner of Ethiopia.

India’s is third most important trading partner for Ethiopia. India’s exports to Ethiopia in 2012 amounted to US $ 890 million i.e. 11% of all of Ethiopia’s imports. It mainly comprised primary and semifinished iron and steel products, drugs and pharmaceuticals, machinery and instruments, metal, plastic chemicals, transport equipments, electrical materials etc. India’s annual imports from Ethiopia have stagnated in range of US $ 30million. These mainly consist of cotton, pulses and spices.

Ethiopia continues to be largest recipient of India’s concessional Lines of Credit in Africa, with commitment of over one billion dollar. India is second largest foreign investor in Ethiopia with approved investment of US $ 4.78 billion. About 40% of Indian investment is in field of commercial agriculture. India is actively playing important role of capacity building in Ethiopia in field of ITEC, education, Science and Technology and Defence etc

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Categories: India Current Affairs 2018

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Comments

  • Debay Million
    Reply

    India is the second populated country in the world opening huge market for Ethiopia’s export economy. We need to talk openly about how to merge both Adama and Addis Ababa, that way all international investors will feel safe to use the Addis Ababa Bole International Airport for their trade without any complication. If the airport is not expanded it will negatively affect the international trade . The Bole airport need to expand to boost international trade. .Adama need to expand and soon become one major big city with Addis Ababa ,since Addis Ababa is unable to expand right now it is time to start expanding Adama and make it merge with Addis Ababa . Most buildings and roads in Addis Ababa and all the way to Adama are constructed by Oromo day laborers sacrifice constructing it with moral under horrible working conditions (same as day laborers in Tigray build Tigray with moral knowing it is theirs) so this moral of the Oromo day laborers gives the Oromo people entitlement to all of Addis Ababa upto Adama not to mention the Oromos historical entitlement to the area . Also we need to do research on how to start the process of returning Debre Zeit Air Force Station to it’s ancestoral owners swiftly without creating chaos .