Ethio-Chinese Trade, Investment Symposium Opens in Addis

Addis Ababa  October 30/2018 A symposium aimed at boosting trade and investment ties between Ethiopia and China opened in Addis Ababa today, according to Ministry of Foreign Affairs. Opening the symposium, Ethiopian Investment Deputy Commissioner, Anteneh Alemu commended Chinese investors for investing in Ethiopia in wide ranging areas. Ethiopia wants more Chinese companies to invest in priority sectors of the country, he said, adding that “the government is ready to render all the necessary support to Chinese companies.” China Chamber of Commerce for Import and Export of Machinery and for Electronic Products (CCCME) Vice President Liu Chun said China will encourage its companies to come and invest in Ethiopia. Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) Deputy Secretary-General Wube Mengistu appreciated the engagement of Chinese companies in various fields, including the construction of infrastructures and installation of electric power stations. Despite lack of diversification, Ethiopia exports coffee, oil seeds and leather to China, Wube said, and highlighted Ethiopia’s fast and sustainable economic growth as well as the ample investment opportunities. The symposium is a viable platform for expanding cooperation on trade and investment and encourages Chinese companies to invest in Ethiopia, he noted. CCCME and Ethiopian Investment Commission (EIC) have signed a Memorandum of Understanding to strengthen trade and investment ties between the two countries. The symposium, which was co-organized by ECCSA, Ethiopian Embassy in Beijing, EIC and CCCME, has brought 12 Chinese companies and over 26 Ethiopian business firms together.