Sunday, May 19, 2024
BusinessChinese corporate leaders strengthen ties, trade relations

Chinese corporate leaders strengthen ties, trade relations

A large delegation of Chinese corporate leaders from the Shandong region has visited Ethiopia this week. Headed by the China Council for the Promotion of International Trade of Shandong Sub-Council, the delegates met with their counterparts in Ethiopia and held a Shandong Ethiopia Business Forum in the capital.

Shandong, a coastal province located in the Eastern part of China, is known for its booming economy that is highly dependent on agriculture and manufacturing. It has an impressive GDP of USD 1.1 trillion and a growing export volume of almost USD two billion.

Aschalew Tadesse, the Foreign Direct Investment (FDI) Promotion at the Ethiopian Investment Commission said that “Ethiopia is one of China’s strategic partners under the ‘Belt and Road’ initiative.” “Investors from China account for a significant share of foreign investment in Ethiopia and the majority are engaged in manufacturing and construction.”

The delegates have met with senior government officials and visited the Adama Industrial Park.

“China and Ethiopia have developed a multi-dimensional relation, with people-to-people business and business-to-business and government-to-government relations as the cornerstones of our relationship. China is currently Ethiopia’s top trading partner. Over the last decade, the total turnover between the two has increased from USD 1. 76 billion in 2008 to USD 5.14 billion in 2017; A jump of 192 percent growth,” said Endalkachew Sime, the Secretary General of the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA).

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Among the Chinese corporate leaders who visited Ethiopia were municipal leaders including, Ma Lihong, the Deputy Mayor of the Liaocheng Municipal People’s Government and Liu Guangtao, the Deputy District Mayor of the District of Liaocheng City and Jia Lianyong, the Deputy County Mayor of the Dong’E County of Liaocheng Municipality. 

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