Ethiopia, China agree to jointly continue exploring new strategic investment areas

Addis Ababa, February 28, 2023 (FBC) – The Ethiopian delegation met with key Chinese financial institutions (FIs) and creditors during the recent official visit to Beijing.

The delegation had excellent discussions with the EximBank of China, Industrial and Commercial Bank of China, China Development Bank, China Export and Credit Insurance Corporation/Sinosure, and China International Development Cooperation Agency/CIDCA, according to the Ethiopian Embassy in Beijing.

The Ethiopian delegation and FIs reviewed the fruitful results of ongoing investment and development projects across various sectors, as well as exchanged perspectives on taking forward the shared, wide-ranging new investment priorities.

The Ethiopian delegation briefed the FIs on its ongoing efforts in opening up the Ethiopian economy for private investments in the telecommunications, financial sector, digital economy, energy, agriculture, as well as measures taken to improve investment environment in the country.

Furthermore, the delegation underscored the instrumental role of the Chinese FIs (as Ethiopia’s largest bilateral lenders) in the country’s infrastructure development and low-wage manufacturing boom that has driven Ethiopia’s economic growth over the last decade.

The two sides agreed to jointly continue exploring new strategic investment areas to expand bilateral cooperation building on the successful collaboration of the last decades, as reported by the Ethiopian Embassy in Beijing.