Kovind arrives in Ethiopia on African trip

Updated: Wed, Oct 04, 2017
08:59 pm
PTI
RELATED NEWS
Exclusive: Private equity firms circling Nestle's skin health business - sources Exclusive: Private equity firms circling Nestle's skin health business - sources
Analysis: As outlook darkens, central banks think hard about their language Analysis: As outlook darkens, central banks think hard about their language
Emerging economies facing headwinds from weaker capital flows, currency dips: Gopinath Emerging economies facing headwinds from weaker capital flows, currency dips: Gopinath
RBI proposes to relax norms for new players' entry in retail payment RBI proposes to relax norms for new players' entry in retail payment
Oil rises as investors latch on to OPEC cuts, supply outlook Oil rises as investors latch on to OPEC cuts, supply outlook

President Ram Nath Kovind today arrived here in Ethiopia's capital on the second leg of his maiden visit abroad.

Kovind, who arrived here from Djibouti, was received at the Addis Ababa airport by his Ethiopian counterpart Mulatu Teshome.

Kovind's visit is the first by an Indian president to Ethiopia in 45 years after President V V Giri's trip in 1972.

The two nations are expected to review the entire gamut of bilateral relations during the visit.

India's bilateral trade with Ethiopia in 2016 was nearly USD 1 billion. It is among the top three foreign investors in Ethiopia with an approved investment of USD 4 billion.

The president will address the India-Ethiopia Business Dialogue, and along with Teshome, he will also inaugurate the Indian Technology and Innovation Exposition which is being organised here by FICCI from October 5-7.

Kovind will also interact with members of the Indian community here.

India is among the top trade, investment and development partners of Ethiopia. As per the World Economic Forum, Ethiopia has been the leader in economic growth in East Africa and is projected to become the fastest growing economy in the world in 2017 recording a growth of 8.3 per cent.

The bilateral partnership between India and Ethiopia which is based on civilisational ties and cultural bonds now covers all areas of mutual and contemporary relevance.

Ethiopia continues to be the largest recipient of India's concessional Lines of Credit for Africa.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)