The World Export Development Forum (WEDF) opened in Addis Ababa, Ethiopia, today under the theme "Trade and Invest in One Africa." The International Trade Centre (ITC) and the Ethiopian Ministry of Trade and Industry jointly host the forum.
The price of oil and other raw materials also fell sharply
The stock market plunged by more than 4 percent yesterday in its worst day in more than two years and investors flooded safe-haven investment alternatives, fearing that global economy may stumble into a new recession.
European markets have continued the steep share sell-off, with investors worried about both the eurozone debt crisis and the weak US economy.
World Vision and USAID announced a $309 million joint project to be implemented in Ethiopia's Amhara and Oromia regions.
The Yabelo-Metagefersa road project has been completed and it is now open for traffic this week, said Ethiopian Roads Authority (ERA).
Yangfan Motors P.L.C., a Chinese based Company, is to expand its vehicle assembly plant in Ethiopia at a cost of US$4.2 million.
The company has been assembling vehicles during the past four years in Ethiopia. Yangfan Motors signed agreement on Thursday for purchase of its assembling and manufacturing facility with Eastern Industry Zone located in Dukem, Oromia Regional State.
