India and African landlocked country “Ethiopia” have signed the two agreements on 20th February 2021. These bilateral agreements are related to visa facilitation and leather technology.
Points To Note
- The agreements were signed in the presence of Demeke Mekonnen Hassen, the Deputy Prime Minister Ethiopia and Foreign Minister of Ethiopia and Indian External Affairs Minister Subrahmanyam Jaishankar.
- Deputy prime minister Demeke Mekonnen is on a four day visit to India.
- Both India and Ethiopia had useful and productive discussions on several of bilateral and regional issues.
- Both ministers also agreed to expand the bilateral agenda with respect to the economy, defence, Science and technology, digital and cultural cooperation.
India and Ethiopia bilateral relation has its foundation in the civilizational ties and cultural bonds. The bilateral historic relation dates back to about 2000 years of history.
India is amongst top development, trade and investment partner in Ethiopia. India is also the 3rd most important trading partner for Ethiopia. Indian exports to Ethiopia 11% of all the imports in Ethiopia which mainly comprises primary and semi-finished iron and steel products. India also exports to Ethiopia includes drugs & pharmaceuticals, plastic chemicals, machinery & instruments, metal, transport equipment and electrical materials. While, Ethiopian exports to India includes cotton, pulses and spices that annually amounts to $ 30million. In FY 2018-19, India and Ethiopia bilateral trade stood at $1.28 billion. Out of this, Indian exports to Ethiopia stood at $1.23 billion and imports stood at $55.01 million.
Other bilateral cooperation
Further, landlocked country is one of the largest recipients of concessional Lines of Credit (LoC) by India among all the African countries. India is also the second largest foreign investor in Ethiopia. Around 40 per cent of the Indian investment is done in the field of agriculture. India also plays a vital role in the field of Defence, education and Science & Technology.
India-Ethiopia sign Agreements on visa facilitation India-Ethiopia sign Agreements on visa facilitation