In a historical move, Ethiopia has become the first African country to open a new Indo Ethiopian Chamber Of Commerce and Industry (IECCI) in commercial capital Mumbai. The IECCI was inaugurated by the hands of Her Excellency Dr. Tigita Mulugeta, Ambassador of the Federal Democratic Republic of Ethiopia in India. The inauguration ceremony was graced by His Excellency Demeke Atnafu Ambulo, Consul General of Ethiopia in Mumbai, Mrs. Tigist Eshete (Regional Director of Ethiopian Airlines in Mumbai), Mukund Mehta, Director, IECCI and MD, Killitch Drugs India and Bhavin Mehta, Director, Kilitch Drugs and former Secretary General of Indian Drugs manufacturing Association.
The IECC&I will promote exports and industry investment for Indian exporters, they will support the corporates which are willing to exports and invest in Ethiopia. It was a long overdue demand from Indian business communities to establish a chamber of commerce so easy transition of business can happen without any hurdles and in speedy manners.
H.E. Dr. Tizita Mulugeta, Ambassador of Ethiopia in India, while inaugurating the Chamber said “We are happy to establish a chamber of commerce which would help both the countries to do smooth business and investment. India is one of the top trading partners of Ethiopia and going forward the chamber will strengthen the ties with leading Indian Business Groups. Ethiopia is among the fastest growing economies in Africa and there are remarkable opportunities available in multiple industries which can advantage both the countries”.
In her opening speech, Dr. Tizita expressed her deep gratitude and appreciation to Consulate General of Ethiopian in Mumbai Demeke Atnafu and Mukund Mehta for the commendable initiative of establishing the IECC&I in India. Speaking on India – Ethiopia Bilateral relationship, H.E Dr Tizita said “Both countries enjoyed a long standing bilateral partnership that so happily exists in political, Economic, cultural and science and technology sectors. She also explained about the political and economic reforms, peace and stability as well as measures being taken to improve ease of doing business in Ethiopia.
Tesfamariam, Tigist Eshete – RD Ethiopian Airlines, H.E. Dr. Tigita Mulugeta, Ambassador of Ethiopia , Mukund Mehta, Director, IECCI, H.E. Demeke Atnafu – CG of Ethiopia, Bhavin Mehta, Director, Kilitch Drugs and others at the launch of IECC&I in Mumbai. Photo: Mewati Sitaram MM
His Excellency Demeke Atnafu Ambulo, Consul General of Ethiopia in Mumbai, while congratulating Mukund Mehta on the successful establishing of IECC&I dwelt on the objectives of the Chamber which inter alia includes promoting and advancing trade, investment and technology transfer between India and Ethiopia.
H.E. Demeke, further underscored exploring new areas of cooperation, sharing information among business communities of the two countries as well as supporting smooth flow of trade and investment are among the noble objectives of the chamber. He also noted that the bilateral trade between the two countries topped to 1.28 billion USD in 2018 -19, of which Ethiopia’s export to India reached 98 million USD in 2019- 20. There are more than 623 Indian Companies with registered capital of more than 5 billion USD.
Mukund Mehta, Director, IECC&I and Industry and Managing Director, Killitch Drugs India welcomed the chief of Guest and participants to the ceremony and explained about the background of the need to establish the Chamber in consultation and cooperation with the Consulate General of Ethiopia in Mumbai. He also highlighted on the strong business bond of his company with Ethiopia in particular and the two countries in general, which culminated in setting up Pharmaceutical manufacturing unit in Ethiopia.
Ethiopia is origin of Coffee, traditional Coffee making also arranged by Ethiopian CG office. Photo: Mewati Sitaram MM
Mukund Mehta said “Our Company is one of the top Drug manufacturers and exporters to African countries. We are about to start our manufacturing units in Ethiopia to address the local market demand and there are huge opportunities for the Indian industries in Africa. The Chamber would help Indian companies to understand Ethiopian market demand and help the business community to get familiar with Ethiopia and Africa”.
Bhavin Mehta, Director of Kilitch Drugs and former Secretary General of Indian Drugs manufacturing Association, shared Kilitch Drugs experience in setting up manufacturing units. He explained the huge opportunity existing in Ethiopia in the pharmaceuticals sector and many other sectors. He invited Pharma companies to invest in Kilinto Industrial Park, where out of 6 companies acquired lands, 4 are Indian companies”.
It may be noted that Modern diplomatic relations between India and Ethiopia were established at the level of legations in July 1948, soon after the independence of India. The relationship was raised to the ambassadorial level in 1952. India maintains an embassy in Addis Ababa and Ethiopia in New Delhi.
Editor in Chief : Mewati SItaram
