Ethiopia and China Sign Trade Agreement

Ethiopia signed a trade and economic cooperation agreement with China on Wednesday. The agreement was signed at the Ministry of Finance and Economic Development.

China will grant a 100 million US dollar loan and provide 65 automobiles and 25 buses to Ethiopia as part of the agreement.

The loan is expected to finance the Addis Ababa deep well water supply projects and the vehicles will be used as transportation for state guests said the MoFED.


The agreement is a sign of the positive relations between Ethiopia and China according to Sufian Ahmed, Ethiopian Minister of Finance and Economic Development who signed the agreement on behalf of the Ethiopian government.

Co-operation between Ethiopia and China has significantly increased according to Sufian. Relations in the areas of investment, infrastructural development and trade have particularly grown stronger in the past few years he said.

Ethiopia is committed to further strengthen relations with China because it is an important element in national development explained Sufian.

The cooperation between the two countries will continue said Jiang Yaoping Chinese Vice Minister of Commerce who signed the agreement for the Chinese government. Chinese companies are contributing to the development of the country in a range of sectors said Yaoping.

Source: People Daily

Exchange Rates

USD 38.9583  38.1944 
EUR 46.9175  45.9975 
GBP 49.6540  48.6804 
CAD 27.2256  26.6918 
AED 9.5978  9.4096 
CHF 41.3345  40.5240 
USD 38.8126  38.0516 
GBP 49.4239  48.4548