The Chinese Ambassador to Ethiopia, Zhao Xiuan, revealed that Chinese companies had created 560,000 job opportunities in Ethiopia. According to the Ambassador, 1,835 direct Chinese investment projects worth USD 4.8 billion have been invested in Ethiopia.

The Ambassador assured that China was always willing to collaborate with Ethiopia in trade and investment noting the "Belt and Road" program had shown visible growth and progress in cooperation between the two countries. Chinese companies have built industrial parks, railway transport facilities, road and communication infrastructures, and are working towards realizing Ethiopia's long-term development plan.

Ambassador Xiuan expressed his commitment to encourage more Chinese investors to invest in Ethiopia and support its growth in the social and economic sectors and China's support for Ethiopia's goal of becoming an investment destination in Africa.

It is to be recalled that China allowed Ethiopia to become a beneficiary of its zero-tariff treatment starting from March 1, 2023. The treatment allows 98% of items exported from Ethiopia to enter China duty free. The two countries also signed a Memorandum of Understanding 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. The Working Group would also 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.

Source: Fana BC

Additional source: 2Merkato Archives