Chinese Delegation Expresses Readiness to Promote More Trade, Investment with Ethiopia

Addis Ababa: Foreign Affairs State Minister for Political and Economic Diplomacy, Ambassador Mesganu Arga, earlier today met with a Chinese business delegation led by the Vice Chairman of the Department of International Relations of the China Council for the Promotion of International Trade (CCPIT), Zhang Shaogang. During the meeting, the State Minister briefed the business delegation on the various trade and investment opportunities in Ethiopia, according to Foreign Affairs Ministry. He said Chinese businesses should come and invest in Ethiopia in the agro- processing, chemicals and fertilizer, and steel manufacturing sectors, among others, to further cement the "All-Weather Strategic Partnership" recently announced by the two countries in the wake of Prime Minister Abiy Ahmed's visit in October 2023. The State Minister said Ethiopia has become an important investment destination for China, whereas China is a major source of investment and a key trading partner for Ethiopia. Reassuring the business deleg ation of the Government's continued commitment to foster more business-to-business ties between the two countries, Ambassador Mesganu told Shaogang that Ethiopia has much to offer in terms of investment and trade opportunities as it is expanding its industrial zones and free trade economic zones. Reiterating the fact that Ethiopia is one of the major and pioneer subscribers of the Belt and Road Initiative (BRI) in Africa, the State Minister stressed that Ethiopia seeks to further unleash the opportunities in the areas of sustainable development, regional connectivity, trade, investment and tourism where Chinese enterprises can play a big role. The Vice Chairman, on his part, congratulated Ethiopia for recently joining the BRICS family. He expressed China's readiness to promote more trade and investment cooperation with Ethiopia in the future. Source: Ethiopian News Agency