The recent India-Ethiopia Joint Trade Commission, held on 6th and 7th October 2008, has resulted in a further strengthening of ties between the two countries, and may culminate in a full double taxation treaty within three months.
The two countries have signed into law numerous agreements over recent years, and the current meeting has resulted in a number of new understandings, covering aspects of the leather, energy and transport sectors.
There currently exists a limited double taxation agreement relating to the operation of aircraft between the two countries, but is expected that a full double taxation treaty will being signed in the near future, possibly within as little as three months. A bilateral investment promotion agreement was signed in 2007.
India is the single largest foreign investor in Ethiopia, and trade continues to blossom between the two nations. Whilst India enjoys a huge trade surplus with Ethiopia, it is hoped that Indian markets will soon be opened up to Ethiopian skins, hides, pulses and potash.
India currently has over 70 DTTs, whilst Ethiopia has relatively few.
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