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India, Ethiopia sign agreements on trade, communication

ANI | Updated: Oct 05, 2017 20:30 IST

Addis Ababa [Ethiopia], Oct 5 (ANI): India and Ethiopia on Thursday signed agreements for cooperation in trade and communication sectors to boost bilateral ties.

After detailed discussions on economic relations, the agreements were signed in the presence of President Ram Nath Kovind and his Ethiopian counterpart Mulatu Teshome at the National Palace in Ethiopian capital Addis Ababa.

India also thanked Ethiopia for its participation in the International Solar Alliance (ISA), established in 2015.

Duing the joint press conference, President Kovind said India wanted to strengthen bilateral ties with Ethiopia.

"We will be working closely to develop trade, investment and people-to-people relations between the two countries," President Kovind said.

He added that India will provide a credit line to the tune of USD 195 million to Ethiopia for an electric transmission line. He also announced a grant of USD 2 million for medicines.

President Teshome said the discussion highlighted "the great importance Ethiopia is attaching to the multifaceted relations between the two countries".

This is the first time in 40 years that an Indian presidential delegation has visited Ethiopia.(ANI)