India, Ethiopia Pledge to Bolster Trade TiesOctober 5, 2017 - Ethiopia and India signed agreements for cooperation in trade and communication sectors. In a short press briefing, the Indian president said he wanted to strengthen bilateral ties with Ethiopia. He added that India will provide a credit line to the tune of $95 million to Ethiopia for an electric transmission line. The Ethiopian president said the discussion highlighted “…the great importance Ethiopia is attaching to the multifaceted relations between the two countries”. The two countries currently engage in nearly $1billion in bilateral trade, while foreign direct investment from India reached $5 billion, according to official documents.

Source: Ethiopian News October 05, 2017 18:45 UTC