Addis Ababa, Dec 17 (NationPress) Prime Minister Narendra Modi, during his meeting with Ethiopian Prime Minister Dr. Abiy Ahmed on Wednesday, expressed India's commitment to enhancing cooperation in key areas such as Digital Public Infrastructure, mining, critical minerals, clean energy, along with food security and agriculture.

The two leaders assessed advancements in trade and investment, innovation, technology, education, and capacity building.

Prime Minister Modi highlighted that Indian firms, regarded as reliable partners, have invested more than $5 billion in Ethiopia, primarily in critical sectors like manufacturing and pharmaceuticals, generating over 75,000 local jobs.

This year alone, 11 Indian companies have made investments in Ethiopia across diverse fields including agriculture, automobiles, iron and steel, and ICT. Furthermore, Indian investments in the textile sector have emerged as a leader in terms of FDI, positioning India among the top investors in the pharmaceutical sector.

The total trade between India and Ethiopia for the fiscal year 2024-25 reached $550.19 million, with Indian exports totaling $476.81 million and imports at $73.38 million, highlighting a strong export-driven relationship.

Ethiopia benefits from the Duty-Free Tariff Preference (DFTP) scheme for least developed countries. Both nations are eager to bolster bilateral trade and technical collaboration.

Additionally, the two nations signed eight MoUs, including the elevation of ties to a ‘Strategic Partnership’, customs cooperation, the establishment of a data center at the Ethiopian Foreign Ministry, UN Peacekeeping training collaboration, debt restructuring under G20, increased ICCR scholarships, and AI short courses for Ethiopians.

Both Prime Ministers reiterated their resolve to collaborate in amplifying the voices of the Global South. They deliberated on cooperation in international forums, including the United Nations.

They emphasized the necessity for enhanced collaboration on climate change, renewable energy, and disaster risk reduction, welcoming the roles of international organizations such as the International Big Cat Alliance, the Coalition for Disaster Resilient Infrastructure, the Global Biofuel Alliance, and the International Solar Alliance (ISA).

Prime Minister Modi expressed anticipation for further cooperation with Ethiopia as BRICS partners during its presidency and in the forthcoming India-Africa Forum Summit.