Ethiopia signed a Memorandum of Understanding (MoU) with China on February 21, 2023 in Beijing to establish an economic cooperation group which was aimed at enhancing economic and trade relations between the two countries.

Ahmed Shide, Ethiopia’s Minister of Finance, and Li Fei, China’s Assistant Minister of Commerce, signed the MoU. During the signing ceremony, it was indicated that the Working Group that would be established by the MoU would help China and Ethiopia to implement the development strategies of the Nine Programs of the eight Ministerial Conference of Forum on China-Africa Cooperation and the Belt and Road Initiative.

China announced that Ethiopia would become a beneficiary of its zero-tariff treatment starting from March 1, 2023. The treatment will allow 98% of items exported from Ethiopia to enter China duty free.

Source(including image): Ethiopian News Agency