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Sunday, June 05, 2005

Ethiopia Seeks Investment in Food Processing

Kolkata: Ethiopia, a member of Comesa (Common Market for East and South Africa), has called for Indian investments in that country in sectors such as food-processing, commercial forestry, leather tanneries, oilseeds, cotton and floriculture.

Making a presentation at an interactive session on `Doing business Ethiopia', organised by the Merchants Chamber of Commerce here today, Yosef Kumalo, Counsellor (Economic Affairs) & Deputy Head of Mission, Embassy of Federal Democratic Republic of Ethiopia, said the potential activities for private investors in commercial forestry in Ethiopia include production and marketing of gum and incense, large scale timber plantations, establishment of integrated forest based industries such as pulp and paper and chip-board, and rubber plantations.

Recalling the ancient trade ties with India, especially the "silk route era" and that of Indian spices, Kumalo said Ethiopia's main problem was poor value addition in agri commodities, and India, he felt, could help here a great deal. Describing Ethiopia as the source of the Blue Nile, he said his nation needed investments from serious players like India, which was rich in technology and scientific manpower.

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