ADDIS ABABA (Halbeeg News) – A high-level Africa-China Business Forum has today kicked off in the Ethiopian capital, Addis Ababa.
The conference which co-organised by the Ethiopian Chamber of Commerce and Sectoral Association in partnership with China International Exhibition Center (CIEC) aims at promoting trade and investment for mutual growth through strengthened partnership.
According Xinhua, hundreds of Chinese companies are expected to take part at the meeting creating ties with their Ethiopian and African counterparts.
Chinese companies engaged in the manufacturing of building materials, engineering logistics, machinery, energy equipment, agricultural and food processing products, environmental protection, trucks and auto parts, hotel management, household materials, as well as nuclear power and nuclear technology applications are said to be among the participants of the high-level gathering.
The East African country has licensed more than 1,290 Chinese investment projects during the previous 2017-18 Ethiopian fiscal year that ended on July 8, according to figures from the Ethiopia Investment Commission (EIC).
Mekonen Hailu, Communications Director at EIC, told Xinhua recently that the Chinese investment projects make up about 24.8 percent of the total investment licenses the commission provided during the fiscal year.
“Chinese investment and capital comprise the largest investment inflow to Ethiopia, with Chinese investors engaged in various sectors ranging from agriculture, manufacturing and services sectors including hospitality and tourism fields.” Hailu told Xinhua.
Xinhua reports that China’s Zhejiang province on Friday launched its liaison office with an aim to promote and explore trade and investment opportunities in the country.
The liaison office was jointly launched by the Chinese Council for the Promotion of International Trade Zhejiang Provincial Committee (CCPIT Zhejiang) and China Chamber of International Commerce Zhejiang Chamber of Commerce (CCOIC).
Speaking at the launching ceremony, Ethiopian State Minister of Foreign Affairs, Aklilu Hailemichael said that “the trade and investment relations between our two countries have been growing over the years.”
“Chinese companies have significantly invested in Ethiopia during the last two decades creating job opportunities for a large number of Ethiopians,” Hailemichael added “My country also expects even more through the Belt and Road initiative that China launched with a focus on economic cooperation and connectivity among nations,” he added.
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