Jairam Ramesh to attend India-Ethiopia trade meet

October 3rd, 2008 - 7:16 pm ICT by IANS  

New Delhi, Oct 3 (IANS) Minister of State for Commerce and Power Jairam Ramesh will attend a bilateral trade meet with Ethiopia, beginning Oct 6 in Addis Ababa, where the two nations will explore avenues for bilateral co-operation, including the expansion of raw skins supply to India.The meeting, which is the fifth of the India-Ethiopia Joint Trade Commission, will also discuss setting up of an apparel fashion design institute in Ethiopia with the help of India’s Apparel Export Promotion Council (AEPC), said an official press communique Friday.

The two-day bilateral trade meeting will conclude Oct 7. A delegation of senior officials, businessmen, bankers and representatives of export promotion councils will accompany Ramesh.

According to an official estimate, India is the single largest foreign investor in Ethiopia with approvals crossing $3.5 billion, out of which $2 billion is invested in the African nation’s agriculture and floriculture sector alone.

“In the context of India emerging as the single largest foreign investor in Ethiopia, the two countries are negotiating a double taxation avoidance agreement which is expected to be clinched in the next three months,” said the official statement.

Besides raw skins and hides, pulses has been identified as one area of trade growth. “Ethiopia has large deposits of potash, which can be exploited by firms in India,” said the statement.

Related Stories

Tags: , , , , , , , , ,

Posted in World |