2merkato

China is to partner with Ethiopia in the renewable energy sector according to Wondimu Tekle, Minister of State for Water and Energy.

It is expected that China will assist Ethiopia in its efforts to develop the renewable sources said Wondimu.

Ethiopia has the estimated potential to generate 60,000 MW of electricity of which 45,000 MW is expected to come from hydro power and 15,000 MW from other renewable energy sources such as geothermal, solar and wind power.

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%.