May 26, 2011 9:28 AM

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India, Ethiopia sign two MoUs to avoid double taxation and promote development of small industries

Seeking to give fresh impetus to its relations with Ethiopia, India has entered into two Memoranda of Understanding to avoid double taxation and promote development of small industries. The agreements were signed after the completion of bilateral talks between Prime Minister Dr Manmohan Singh and his Ethiopian Counter part in Addis Ababa on Wednesday evening. An MOU to avoid double taxation and prevention of fiscal evasion with respect to taxes on income was signed by External affairs minister Mr S.M.Krishna and Ethiopian minister for finance and Economic development Mr Sufian Ahmed. The other agreement entered between the two countries relates to the development of small industries in Ethiopia. Earlier addressing a joint press conference with his Ethiopian counter part Dr Manmohan Singh said India has tried to assist in Ethiopia's development through capacity building support and offered lines of credit of more than 700 million US dollars during the last five years.Dr Singh who is the first Indian Prime Minister to visit Ethiopia will address the Ethiopian Parliament today. Later, the Prime minister arrives in Tanzania this evening on a 3-day visit. During his visit, Prime Minister Dr. Manmohan Singh will hold talks with President of Tanzania, Jakaya Mrisho Kikwete at Dar-es-Salaam to strengthen cooperation between the two countries in social sector, human resource development and bilateral trade. Both sides will sign some agreements of mutual interests. AIR correspondent reports that terrorism and piracy would be high on agenda of talks between Dr. Singh and President Kikwete.

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