Seeking to "rediscover" their relationship, India and Ethiopia on Thursday signed an agreement to promote bilateral investments and decided to increase coordination on critical global issues like UN reforms.
With Portugal taking presidency of the European Union on July 1, strong ties with India would help expedite the proposed free trade agreement between India and the EU.
The Prime Minister's Trade and Economic Relations Committee is likely to meet today to decide on the level of flexibility India can have in talks on different free trade agreements the country is negotiating.
As Japanese trade minister Akira Amari begins his India visit tomorrow, official-level talks on a free trade agreement last week ended with wide differences as New Delhi demanded extra safeguards for its domestic industry but Tokyo opposed such concessions.
Ahead of Japanese Prime Minister Shinzo Abe's visit here late August, India and Japan have stepped up negotiations on an economic pact and the multi-billion dollar Mumbai-Delhi industrial corridor with Trade Minister Akira Amari beginning a five-day visit here Saturday.
The results of negotiations for Free Trade Agreements (FTAs) between Asean and India, Japan, Australia and New Zealand have not been as expected and areas are still there where consensus have yet to reached.
Thai Prime Minister Surayud Chulanont on Tuesday announced launching of an FTA roadshow aimed at speeding up a free trade agreement between India and Thailand, for which fresh negotiations will begin next month.