Second Anniversary of India's Business Forum
India’s investment in Ethiopia is continuing a pace and 265 Indian companies have invested of USD $ 464 million in Ethiopia till July 2007. These figures are revealed in special function to mark the 2nd anniversary of the India Business Forum (IBF) in Addis Ababa on 30 Oct 2007.
On the occasion special publication, India a Partner of Choice, which had the findings of the regional conclave held for Indian companies in Ethiopia and the India Africa conclave in New Delhi last year. The booklet had lessons for doing business with Ethiopia for Indian companies.
The launch of the book saw the first copies handed over by the Ambassador of India to Ethiopia, H.E Mr. Gurjit Singh to H.E Mr. Neway Gebreab, Economic Advisor to the Prime Minister, H.E Mr. Tadesse Haile, State Minister of Trade and Industry, H.E Mr. Ahmed Tussa, State Minister of Trade and Industry and Honorable Mr. Harka Haroye, Member of Parliament and Chairman of the Competition Commission.
Speaking on the occasion, the Economic Advisor to the Prime Minister said that Indian investors had provided a new dimension of cooperation between India and Ethiopia and had added vigour to the relation ship. He thanked the Embassy for its initiative to establish the forum to bring Indian and Ethiopian businessmen together.
The Indian Business Forum has held sectoral meetings in areas like agriculture, floriculture, transport, infrastructure etc in the last 2 years. It has also held a regional business promotion symposium in the Tigray Regional State (Mekelle). The next regional symposium is also announced to be held in Southern Nations, Nationalities and Peoples’ Regional State (Awassa) on 3 Dec 2007.
Recalling his presence in the inauguration 2 years ago H.E Mr. Tadesse Haile, State Minister of Trade and Industry said that this initiative had been an unqualified success and contributed immensely to provide support to Indian entrepreneurs and highlight the opportunities and advantages in Ethiopia.
On this occasion an Indian delegation of entrepreneurs in the leather sector organized by the Council of Leather Exports in India was present. The delegations 3-day visit was aimed at enhancing Indian investment and joint ventures in the leather sector in Ethiopia with the view to increase imports by India of their requirements.
At the meeting of the forum a briefing on the design workshop initiated by the Embassy of India and held at FeMSEDA for the last 3 weeks to enhance the capacity of 50 Ethiopian designers and to enhance utilization of Ethiopian materials was provided by Dr. Neeti Bose, Coordinator of the project and Ms. Geetpriya, Faculty from the Pearl Fashion Academy, New Delhi.
On the occasion several Indian businessmen and investors in various sectors like bio-fuel, transport, mining, cement and steel were introduced to the Ethiopian business community.