ZCZC
BCN-16
ETHIOPIA-CHINA-TRADE-INVESTMENT
Ethiopians speak highly of China’s engagement in trade, investment
ADDIS ABABA, Nov. 24, 2018 (BSS/Xinhua) – Ethiopian policymakers and
business people on Friday hailed the country’s investment and trade ties with
China as an ideal model of win-win and strategic partnership.
Ethiopian government’s high-level officials and business community members
were participating in a trade and investment symposium held in Ethiopia’s
capital Addis Ababa on Friday, with an aim to promote trade and investment
ties between the two countries.
Melaku Ezezew, president of the Ethiopian Chamber of Commerce and Sectoral
Association, considered the Sino-Ethiopian trade and investment relations
“comprehensive and strategic,” evidenced by massive and robust investment in
various sectors.
“Ethiopians really feel at ease and friendly with Chinese businesses, and
respect the significant achievement China has made. China has amazed the
whole world by becoming one of the world’s biggest economies in a relatively
short period of time,” Ezezew told participants from Ethiopian and Chinese
businesses.
“China and Ethiopia have developed multi-dimensional relations, with
people-to-people, business-to-business and government-to-government relations
being the cornerstones of our relations,” he added.
Noting that the two countries’ relations have been significantly deepened
during the past decades in trade and investment sectors, Ezezew said that the
engagement of Chinese companies has contributed a lot to Ethiopia’s road
construction, supply of manufacturing goods from China, telecommunications,
as well as developments in energy power sector.
The East African country licensed more than 1,290 Chinese investment
projects during the 2017-18 Ethiopian fiscal year ending on July 8, according
to figures from the Ethiopia Investment Commission (EIC).
Mekonen Hailu, communications director at the EIC, told Xinhua that
Chinese investment projects made up about 24.8 percent of the total
investment licenses the commission provides during the previous 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 service sectors including hospitality and
tourism fields,” Hailu told Xinhua.
MORE/HR/1055
ZCZC
BCN-17
ETHIOPIA-CHINA-TRADE-INVESTMENT 2 LAST ADDIS ABABA
Ethiopian State Minister of Foreign Affairs Aklilu Hailemichael also on
Friday underlined the positive contribution of Chinese companies to
Ethiopia’s investment landscape in line with the Ethiopian government’s
initiative to attract more foreign investors as the country aspires to be a
manufacturing hub of Africa by the year 2025.
The minister said Ethiopia expects more through the China-proposed Belt
and Road Initiative with a focus on economic cooperation and connectivity
among nations.
Habtu Asrat, senior investment promotion expert at the EIC, said that
Chinese engagement in Ethiopia corresponds positively with the Ethiopian
government’s aspirations and ambitions, with due emphasis on infrastructure
development and various other development initiatives.
While calling for further investments from China, Asrat said that the
Ethiopian government will make its utmost efforts to lure Chinese investments
in various areas including agriculture, hotel and tourism, manufacturing and
various other sectors.
Ethiopia has in recent years rolled out various incentives to attract
foreign investors, including customs duty exemption, income tax holidays, and
provision of land at competitive lease price.
China, Ethiopia’s largest trading partner, had witnessed trade with
Ethiopia increasing at an average rate of 22.2 percent annually during the
last decade, according to the EIC.
BSS/XINHUA/HR/1100