Ethiopia, China Enjoying Commendable Relations in Trade and Investment

Addis Ababa: The activities being underway to bolster the trade and investment partnership between Ethiopia and China have been showing tangible results, Investment Commission Commissioner, Hanna Arayaselassie remarked.The Commissioner made the remark at the 2nd Ethio-China Friendship Cooperation Forum held today in Addis Ababa.The Ethiopian Investment Commission and Ethio-China Friendship Cooperation Forum have also signed MoU aimed at supporting the industrialization efforts in Ethiopia under 'Light Up Villages Program.'On the occasion, Hanna said over the past five years Ethiopia has been one of the countries very much preferred by foreign investors.Ethiopia has been able to register an impressive achievement in terms of attracting foreign direct investment (FDI), she stated.These accomplishments can be attributed to Ethiopia's efforts to establish a robust and resilient economy and to adopt more advanced macroeconomic policies, according to the commissioner.The Ethio-China Friendship Cooperati on Forum is contributing a lot to further enhance the trade and investment relations of the two countries, Hanna noted.Accordingly, the number of Chinese investors engaged in Ethiopia's economy in various sectors including ICT, agro-processing and manufacturing, is increasing, she added.State Minister of Water and Energy, Sultan Woli said Ethiopia is a country with enormous resources vital for the development of energy, highlighting the government's priority to expanding investment infrastructures.He cited the various industrial parks operating across the country with the necessary facilities, noting the number of foreign investors that are engaging in these parks is increasing.Representative of Foreign Affairs Ministry, Mekbib Mengesha said for his part that Ethiopia is one of the leading countries that joined the Belt and Road Initiative.The Ethio-China Friendship Cooperation Committee Chairperson, Betty Xu emphasized the contribution of 'Light Up Villages Program' in supporting Ethiopia's industr ialization efforts.The program is instrumental to expand electricity access in rural part of the country and ease challenges of foreign currency shortages, she added.Source: Ethiopian News Agency