State Minister of Industry, Hassen Mohammed stressed the need for exploiting Ethiopian and Indian comparative advantages in the chemical industry and trade through cooperation.
A forum that aimed at creating cooperation between Ethiopian and Indian chemical manufacturers, buyers as we as sellers was held.
Also read: Ethiopia has potential to earn up additional US$5.8B from coffee export
Given the government’s priority, the country has been becoming an attractive destination for chemical trade.
In this regard, Ethiopia’s chemical industry is diverse and demands chemicals for food, beverage and textiles.
Speaking at the occasion, the state minister said that the forum was vital to open doors for cooperation between the two countries and the development of the manufacturing sector.
Moreover, the growing business partnership between the Indian chemical industry and the Ethiopian market will be a big step forward, Hassen indicated.
Besides, strengthening the economic ties between Ethiopia and India, the forum intended to adjust the imbalance between Indian chemical products and Indian exporters in the Ethiopian chemical market, he revealed.
Also read: IMF team in Ethiopia for funding talks as debt deadline looms
Finally, the state minister stated that the discussion will increase the market linkages of the two countries by strengthening partnerships and creating mutual relations.
India is the second largest foreign investment in Ethiopia following the east African nation has been a favorite destination for Indian companies.
More than 650 Indian companies are registered with Ethiopian Investment Commission (EIC), it was indicated.
