An Interaction with H.E. Mr. Demeke Atnafu Ambulo Ambassador of the Federal Democratic Republic of Ethiopia

Historical linkages between Ethiopia and India go back to more than two thousand years of history. Ethiopian traders in the 1st century AD via the ancient port of Adulis traded with Indians. They imported silk and spices from India and sold gold and ivory. In recent years, with the opening up of the economy, business ties between the two countries have grown significantly, especially in the areas of trade, investment, agriculture and infrastructure projects.

The bilateral trade between Ethiopia and India reached USD 2.8 billion in 2022, with Ethiopia’s exports totaling around USD 80 million. This marked an increase from the 2021 figures, where the bilateral trade stood at USD 1.8 billion, and Ethiopia’s exports were approximately USD 75.13 million, as reported by the National Bank of Ethiopia. Notably, India stands as Ethiopia’s second-largest trading partner, constituting 10.2% of Ethiopia’s global trade. The trade dynamics encompass a variety of goods, with Ethiopia’s major exports include pulses, precious and semi-precious stones, vegetables and seeds, leather, oilseeds and spices, while major exports consist of, primary and semi-finished iron and steel products, drugs and pharmaceuticals, machinery and instruments, Consumer products, and manufactures of metal.

There are diverse opportunities for fostering bilateral trade with Ethiopia across various sectors, presenting avenues for mutual economic growth. These opportunities span agricultural commodities, including cereals, legumes, and rice, as well as finished items and food preparations. Additionally, the beverage and marine product sectors offer promising prospects. The potential for expansion and development within these categories signifies a broad range of opportunities for businesses and industries engaged in these fields.