Ethiopia has signed new agreements with China as the Chinese Prime Minister Li Keqiang arrived in Addis Ababa on the Sunday, May 4, 2014. This is Li’s first visit to Africa since he came to office last year.

During his visit to Ethiopia, a total of 16 agreements were signed between Chinese Ministers and company executives that accompanied him and their Ethiopians counterparts.

There is a heavy investment by Chinese firms in Ethiopia in recent years. According to the official figures, there is an investment of over US$ 1 Billion in Ethiopia by the Chinese firms. China’s partnership to Ethiopia is not limited to investment. It is a major ally to Ethiopia with regard to expanding infrastructure; roads, railway and telecome.

The two Chinese giants, ZTE Corp and Huawei Technologies, are presently working on a high-speed 4G broadband network in Addis Ababa and 3G service in the rest of the country. These companies have signed a US$ 80 Million deal in order to lay optical ground cables to form a nationwide network. 

At a press conference Li said "This right track in the relationship between us has been laid. I am sure it will lead us to stronger growth in our ties". 

Source: Reuters