The 2019 edition of The China Trade Week (CTW) will be held May 2-4, 2019 in at the Millennium Hall in Addis Ababa, the organizers announced. The event will be held Thursday through Saturday, 10AM to 6PM every day.
Shangtex Holding Co. Ltd., China's second-largest textile company, is to set up a $65 million plant at Bole Lemmi II Industrial Park. To this end, the company signed a lease agreement with the Ethiopian Industrial Parks Development Corporation.
China remains Ethiopia's top foreign investor, surpassing USD 5 billion USD investments last year. Dr. Yang Yihang, a senior Chinese diplomat, revealed nearly 2,000 Chinese projects are underway, creating 65,000 jobs. Over 500 Chinese firms now operate in Ethiopia, introducing 223 new products in 2023 alone.
Ethiopian coffee exporters are benefiting from the growing demand for their product in China, as more Chinese consumers develop a taste for Ethiopian coffee. Over the past decade, China's yearly coffee consumption has increased by an impressive average of over 15%, in contrast to the global coffee consumption growth rate of just 2.2%.
Ethiopia, Burundi, and Niger will become beneficiaries of China’s zero-tariff treatment starting from March 1, 2023. The treatment targets 98% of taxable items which are exported from the three countries to China.
