India and Ethiopia on Friday signed multiple agreements in the presence of External Affairs Minister (EAM) Dr S Jaishankar and Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia Demeke Mekonnen Hassen.
The Ethiopian Deputy Prime Minister had arrived in India on February 16 for a four-day visit.
On Thursday, EAM Jaishankar and Mekonnen Hassen inaugurated a new Chancery complex on Shantipath. "A pleasure to join Ethiopian DPM and FM Demeke Hasen at the inauguration of their new Chancery complex on Shantipath - our main diplomatic avenue. A clear testament to the priority accorded to Ethiopia in India's foreign policy," tweeted Jaishankar.
On Wednesday, Minister of State for External Affairs V Muraleedharan had said while Indian investors have "invested strongly" in Ethiopia, there is a scope to expand and diversify bilateral trade.
Speaking at the India-Ethiopia Business Forum, he said Ethiopia is the second-most populous country of Africa. The Ethiopian economy has posted double-digit growth rates over 15 years. Ethiopia also has a highly-educated and skilled populace. These attributes are due to the sound economic policies of its leadership, he continued.
"It is natural then that Indian investors have invested strongly in Ethiopia to the mutual benefit of our two nations. I learned with happiness that today there are over 607 Indian compes in Ethiopia with a licensed investment of over US$ 5 billion. These Indian compes give employment to about 75,000 Ethiopian nationals," he said.
The minister further stated that despite the COVID-19 pandemic, Indian businessmen have continued to explore investment opportunities in Ethiopia.
He pointed out that during the last year, "we have had 35 new Indian investments in Ethiopia."
Muraleedharan had said further that another important aspect of the ties between the two countries relations is the "development partnership" and pointed out that "our development partnership covers sectors such as rural electrification and the sugar industry and consists of a total of 6 Lines of Credit amounting to USD 705 million extended to Ethiopia."
( With inputs from ANI )
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