Ethiopia’s Economic Reforms Will Have Deep Impact in Economic, Investment Landscapes: Amb. Kumar

Addis Ababa: The economic reforms that are being taken by the Government of Ethiopia will make a deep impact in the economic and investment landscape of the country, India's Ambassador Anil Kumar said.In an exclusive interview with ENA, the ambassador commended the leadership of Prime Minister Abiy Ahmed for taking many revolutionary steps, the recent macroeconomic reform being one of those step.'The various economic reforms which are taken by the prime minister are going to make a deep impact in the economic and investment landscape of Ethiopia, one of the pillars of the Horn of Africa and the largest economy not only in Africa but among the world,' he elaborated.The growth rate and the potential available to this country is certainly going to be unlocked, Ambassador Kumar said, adding that 'this country is going to be an extremely favorable destination for investments across the world, including from India.'According to him, the country has identified five important pillars for its transformation, a griculture, manufacturing, ICT, mining, and tourism; and these are all the sectors where India has core competence.Indian investors would certainly like to come to Ethiopia and explore these landscapes, he pointed out.Moreover, Ethiopia and India share a longstanding friendly relationship marked by robust cultural, economic and trade exchanges.Ambassador Kumar stated that the membership of Ethiopia in the BRICS gives it a much closer opportunity for a much closer interaction with the BRICS member countries.'If we see the economic landscape, the commercial landscape and the human capital of Ethiopia, this can bring a synergy into the new developing world order. Most of the BRICS members, or all of the BRICS members, are developing countries,' he elaborated.We the BRICS members are trying to create a new ecosystem where we cooperate with each other, where we interact with each other freely, and where we create a system where the financing requirements are met within the limits of our capabilities, the ambassador said.As BRICS members 'we feel that Ethiopia brings value to the BRICS Plus membership. It comes with a lot of conventional knowledge, wisdom, and represents a large part of Africa and the sentiments of Africa. We are seeing Ethiopia, as a valuable partner for not only India, but also for the BRICS Plus countries.'Source: Ethiopian News Agency