Wednesday , August 4 2021

Ethiopia plans next-week high-level China-Africa business meeting – Xinhua



Adibs Ababa, Nov 24 (Sahihua) – Ethiopian capital of Ethiopia will host the high-level Africa-China business forum on 27th November, as hundreds of Chinese companies are expected to participate in the meeting, they will be in close association with the Ethiopian. And African equivalents.

Co-organizing high-level business meeting in partnership with the Ethiopian Chamber of Commerce and Sectoral Association, China International Exhibition Center (CICC), said on Saturday that the strong participation in this meeting is aimed at promoting trade and investment for mutual growth. .

According to the organization, hundreds of Chinese companies engaged in 29 different fields are expected to participate in the meeting in biding to create partnerships and joint ventures with their Ethiopian and African counterparts.

Chinese companies involved in building materials, engineering logistics, machinery, energy equipment, agriculture and food processing products, environmental conservation, truck and auto parts, hotel management, household materials, and atomic energy and nuclear technology applications participate in high-level convention participants.

Between the desires of the Ethiopian government to attract Eastern investors with Africa's plans to become Africa's manufacturing hub by 2025, the engagement of Chinese companies in Ethiopia's investment landscape has also been growing for years.

According to the Ethiopia Investment Commission (EIC) statistics, East Africa's country licensed more than 820 Chinese investment projects during the Ethiopian fiscal year 2017-18.

Econ Communications Director McNen Heilu recently told Singhu that China's investment plans provide commission during the financial year, 24.8% of total investment licenses.

"China's investments and capital are the biggest investments in Ethiopia, Chinese investors are engaged in various fields of agriculture, manufacturing and services sectors, including hospitality and tourism sectors." Hailey said to Xinhua.

On Friday, Chinese Ziajiang Province started its contact office with the intent of promoting and exploring the country's trade and investment opportunities.

The Chinese office was jointly represented by the China Chamber of China Council for the Promotion of International Trade, Zhejiang Provincial Committee (CCPITJJ) and the International Chamber of Commerce of Zhejiang Chamber of Commerce (CCOIC).

Speaking at the launch ceremony, Ethiopian Foreign Minister Akilu Hailemichel said, "Trade and investment relations between our two countries have been growing for years."

"In the last two decades, Chinese companies have invested significantly in Ethiopia, have created employment opportunities for a large number of Ethiopians," said Heilimichle.

He added, "My country is also expecting more by the Belt and Road initiatives, which is initiated by China focusing on nations between economic cooperation and connectivity."


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