Ethiopia, China discuss economic cooperation through BRI

Addis Ababa, March 22, 2024 (FBC) – Ethiopia’s Ministry of Finance engaged in consultations with a high-level Chinese delegation regarding the new economic cooperation between the two nations, focusing particularly on key projects within the Belt and Road Initiative (BRI).

Head of the delegation, Mr. Xu Jianping, Director General of the National Development and Reform Commission, emphasized the significance of the Ethio-China economic cooperation, which has garnered notable attention from the Chinese government. He proposed the establishment of a bilateral working group mechanism between the two countries to enhance the team’s capacity in facilitating the successful execution of key projects under the Belt and Road Initiative.

On the occasion, the Minister of State for Finance, Ms. Semereta Sewasew, highlighted that the bilateral cooperation between the two nations has been elevated to an “All-Weather Strategic Partnership.” She emphasized the importance of leveraging and maximizing their respective comparative advantages to enhance and advance this mutually advantageous collaboration.

Both parties agreed to collaborate closely in advancing key projects encompassing road infrastructure, railway development, agriculture, and other sectors of growth. According to the Ministry of Finance, these projects are set to be deliberated upon during the upcoming Forum on China-Africa Cooperation (FOCAC) meeting, with the aim of reaching a consensus for formal endorsement and signing.