Ethiopia and India boost bilateral trade ties

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Ethiopia and India boost bilateral trade ties

By Emnet Assefa

The Ethiopian trade Minister Abdurrahman Sheik Mohamed stated that trade between Ethiopia and India is rising even though the balance favours India.  At the opening of a trade fair named India Show as part of the 2nd India-Africa partnership summit at the Millennium Hall, the minister said Ethiopia and India have close bilateral relations which have been sustained through the years.

According to the Minister trade exchange between the two countries has increased by an average 21 per cent per annum and Ethiopia’s import from India on average has increased by about 22 per cent.

The Minister also noted that trade turnover between 2004-2010 has exceeded US$445 million per annum in which the major imports from India being, medicaments, construction materials, educational material, electronics and other industrial products.

Oil seeds, ganger, gum Arabic and dried beans and tanned skins are the major export products to India are according to the minster.

The Minister also expressed that regardless of the trade figure fluctuation the trade balance favors India.

He suggested some ways that might make the trade balance can mutually benefit the two parties.  Increasing the existing export products to the possible opportunities through diver sing the exportable products and holding a specialized and targeted exhibitions at both ends are recommended by the minister to bring balance trade between the two countries.

According to a release from the Indian Ministry of Commerce and Industry, exports of Agricultural and Processed Food Products from India to Ethiopia between 2009 and 2010 amounted to US$ 40 million, the main exports being flowers, fruits and vegetable seeds and other processed food.

The opening ceremony of the trade show was attended by Ethiopian Minister of Industry, Mekkonen Manyazewl, Indian Minister of Commerce and Industry Anand Sharma, Deputy Chair Person of The African Union Commission, Erastus Mewacha, Ethiopian Ambassador to India, Ambassador Genet Zewde and Indian Ambassador to Ethiopia Ambassador Gurjit Singh and some other senior officials.

According to the organizers about 80 Indian exhibitors’ showcased their products.

 

  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit
  • Africa-India Summit