India Commits to Support MSMEs Dev’t in Ethiopia: Minister

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Addis Ababa  December  19/2019  India is committed to share its best experiences in development of micro, small and medium enterprises (MSMEs) to Ethiopia, said Shri Nitin Gadkari, Minister of Road Transport and Highways and MSMEs of India.

During his meeting with Ethiopian Ambassador to India, Tizita Mulugeta, Gadkari said micro, small and medium enterprises in India play a significant and pivotal role in the emergence of the Indian economy.

He assured that his country is ready to share the path of the Indian experience in the development of MSMEs to Ethiopia.

The development of this segment is extremely critical to meet the national imperatives of financial inclusion and generation of employment, he noted.

India has the best technology in road transport which is suitable for developing countries and available with low capital costs, he said adding that there is a huge opportunity to work closely in this area with Ethiopia.

Ambassador Tizta for her part appreciated the long-standing and cordial relationship between India and Ethiopia, citing ties in the sphere of investment, trade, capacity building and people to people relations.

The Government of Ethiopia, she said, considers micro, small and medium enterprises (MSMEs) as a key engine of economic growth which can further promote equitable development.

Accordingly, the Ambassador hailed the Indian government for the support it provided in the establishment of an incubation center in Ethiopia and requested more assistance to support micro, small and medium enterprises (MSMEs) in the country.

Tizta reiterated that the Ethiopian government has the interest to work with its Indian counterpart on MSMEs in the areas of capacity building, experience sharing, and Information technology-based business, providing financial assistance to MSMEs.

The two sides have reached an understanding to intensify engagement in the aforementioned areas to promote the bilateral ties that exist between the two countries, according to the statement.