ADDIS ABABA (HAN) October 30, 2015 – Public Diplomacy and Regional food Security Initiatives News.On October 28, 2015, Foreign Minister Dr. Tedros opened the Ethio-India Business Forum at the Sidelines of The Third India-Africa Forum Summit,during which he said Ethiopia and India enjoyed long-lasting relations, one that is historic. Despite such historic relationship, Dr. Tedros noted that the investment flow and trade volume between the two countries was not up to the level of the long history of friendship. He underline that the two sides should regularly nurture the relationship to the benefit of the two nations.
The Minister stressed that both Ethiopia and India have huge potentials for moving ahead with strong partnership. Expressing that Ethiopia has untapped resources, the Minister outlined the major factors that makes Ethiopia preferred destination for investment and business. These includes, Ethiopia’s fast economic growth its B and a B+ credit rating, its massive engagement in the construction of industrial parks, the availability of enhanced market accesses to exports through such opportunities as AGOA and EBA and the Indian duty free tariff preferences.
He also noted that the investment promotion and protection framework, the avoidance of double taxation, the expansion of roads and railway network and the country’s lowest electricity price among others provide attractive environment for Indian and other foreign investors. Noting that Ethiopia is on the road to transformation, Dr. Tedros said, “Come and join Ethiopia’s march towards renaissance” while also adding “when you do, come for a long-term partnership.” Following Dr. Tedros’ address, Mr. Fitsum Arega, the Ethiopian Investment Commission Commissioner also explained at length on the investment opportunities, policies and incentives in Ethiopia. During the event Government to Business and Business to Business sessions were also held between members of the Ethiopian business community and their Indian counterparts. MFA