VENTURES AFRICA – A 14-man delegation from the Confederation of Indian Industry (CII) is billed to visit Addis Ababa beginning from 14-15 July to talk about multi-sector projects that will boost Indian business in Ethiopia.

Industry sources have it that among the delegation to the capital of Ethiopia, are resident representative of EXIM Bank of India, Karthikeyan B., country head and CEO of State of India, Subramanian Venkataraman, and international regional director of Africa, Gulf and Middle East of CII, E.B. Rajesh and others.

The delegates will meet higher officials and business partners, plus Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA), the Ethiopian Chamber of Commerce for a business to business (B2B) agreement with the Ethiopian businesses.

During the three days 10th CII EXIM Bank Conclave on India – Africa Project Partnership organized earlier this year in March with the theme “Accelerating Economic Growth through Innovation, Transformation, and Inclusion and Governance conclave, Ethiopia was one of the countries that benefited immensely.

As part of the benefits from the 9th to 11th conclave, Ethiopia, a population of over 91 million people, was given a line credit of $1 billion for the construction of sugar and power industries and rail network in an attempt to bring the country to a middle class country status.

Again, among other programmes, the delegation will meet with officials from the Ethiopian Investment Agency (EIA) in order to talk and harmonize all the business opportunities that could allow the Indian companies participate in boosting businesses in Ethiopia. As part of the programme, they will meet with the Ministry of industry (MoI) and Minister of Water, Irrigation and Energy (MoWE), the Ethiopian Minister of Agriculture Investment and Land (EAIL). Even interaction with CEOs is not left out in the meeting.

This visit is targeted at opening up new business frontiers in Ethiopia and find out possible areas of investment which can deepen Indian companies’ presence in the country that is making rapid effort in eradicating poverty and becoming self-sufficient in food, Source from the Indian embassy in Addis Ababa, quoted Vijayakumar K., the first secretary and head of chancery at the embassy.

He maintained also that the meeting will indeed promote strong industrial relationship between Ethiopia and India and ultimately bolster economic opportunities.

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