Ethiopia, India sign trade, communication agreements
India to provide credit line to tune of $95 million to Ethiopia for electric transmission line, says Indian president
President of India, Ram Nath Kovind (L) and President of Ethiopia, Mulatu Teshome Wirtu (R) shake hands as they pose for a photo during their meeting at National Palace in Addis Ababa, Ethiopia on October 5, 2017. (Minasse Wondimu Hailu - Anadolu Agency)
by Addis Getachew
ADDIS
India and Ethiopia on Thursday signed agreements for cooperation in trade and communication sectors.
The agreements were signed after a
In a short press briefing, the Indian president said he wanted to strengthen bilateral ties with Ethiopia.
“We will be working closely to develop trade, investment and people-to-people relations between the two countries,” Kovind said.
He added that India will provide a credit line to the tune of $95 million to Ethiopia for an electric transmission line. He also announced $2 million for
Teshome said the discussion highlighted “…the great importance Ethiopia is attaching to the multifaceted relations between the two countries”.
This is the first time in 40 years that an Indian presidential delegation has visited Ethiopia.
Kovind arrived in Addis Ababa on Wednesday after a visit to the tiny
The two countries currently engage in nearly $1billion in bilateral trade, while foreign direct investment from India reached $5 billion, according to official documents.
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