ADDIS ABABA-Finance Minister Ahmed Shide has projected a stronger and more resilient Ethio-China economic partnership, fueled by recent macroeconomic policy reforms designed to attract greater foreign direct investment.
Speaking at the Jiangsu-Ethiopia Economic and Trade Cooperation Conference, Ahmed emphasized Ethiopia’s unwavering commitment to further strengthening its cooperation with China.
Speaking at the Jiangsu-Ethiopia Economic and Trade Cooperation Conference, the minister reaffirmed Ethiopia’s strong commitment to deepening its cooperation with China. He also highlighted that China has become Ethiopia’s largest investment partner. In his remarks, Ahmed outlined the country’s ongoing economic reforms, which are designed to provide greater incentives for foreign investors, including enabling them to own permanent assets.
“Our reforms include investment incentives and enhanced legislative frameworks that make Ethiopia a more attractive destination for foreign investors,” the minister said. He added that these changes, coupled with the implementation of the African Continental Free Trade Area (AfCFTA), will position Ethiopia as a central player in Africa’s economic future.
Foreign Affairs State Minister Misganu Arega (Amb.) noted that Ethiopia is actively implementing the agreements made during Prime Minister Abiy’s visit to China. He encouraged more enterprises from Jiangsu province to invest in Ethiopia, noting that several companies from the region are already making significant contributions. Misganu also stressed that Ethiopia is keen to expand its economic ties and partnerships.
Jiangsu Province Governor XuKunlin also reaffirmed his commitment to strengthening economic ties, particularly in the manufacturing sector. He mentioned Ethiopia’s growing demand for high-quality industrial products, positioning the country as an increasingly attractive destination for investment.
LailaLokosang, Senior Technical Advisor at the African Union Commission, emphasized the need for stronger trade relations between China and Africa, particularly in the agricultural sector. “China is poised to become a major recipient of African exports, especially agricultural products,” Lokosang said, urging China to further open its markets to African producers.
The Ethiopia-China partnership is viewed as a model for broader China-Africa economic integration, with both sides seeking to expand cooperation in key sectors such as agro-industry, coffee, oilseeds, and other essential commodities.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD SATURDAY 16 NOVEMBER 2024
