Joint Trade Committee meeting in Addis Ababa (6 Nov 2023)

Last Updated on November 7, 2023

India and Ethiopia held the Sixth Joint Trade Committee meeting at the level of Director General / Joint Secretary in Addis Ababa (6 Nov 2023). Ethiopian Minister for Trade and Regional Integration H.E. Mr. Gebremeskel Chala attended the inaugural session. Both sides made comprehensive review of their bilateral trade and acknowledged the huge potential for expansion and diversification of the trade basket. They agreed to cooperate in standardization and quality assurance, financial, pharmaceutical, automobile, renewable energy, agriculture & food processing sectors.

India is the second largest trading partner for Ethiopia. Bilateral trade between Ethiopia and India stood at USD 2.8 billion in 2022, out of which Ethiopia’s exports were about USD 80 million.

Also, India is the second largest foreign investor in Ethiopia. There are about 650 Indian companies in Ethiopia with licensed investment of over USD 5 billion of which about USD 3-4 billion is estimated to be on the ground. Indian investors are the second-largest foreign employers in Ethiopia, providing employment to more than 75,000 persons.

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Last Updated on: April 29, 2024 @ 4:38 pm