Ethiopia, China have huge untapped opportunities for economic partnership: Minister-Counsellor

Addis Ababa, November 17, 2022 (FBC) – Ethiopia and China have huge untapped potential business partnership that would further enhance the existing economic cooperation in various sectors, Economic and Commercial Minister Counselor of the Embassy of China in Ethiopia said.

In an exclusive interview with ENA, the economic and commercial minister counsellor Yang Yihang said the two nations have untapped economic potential which needs to be further expanded.

According him, efforts have been made to encourage and promote more Chinese companies to engage in business activities in Ethiopia with the view to enhancing the cooperation and friendship between the two countries in not only now but also in the future.

“We promote more Chinese investor and companies to engage in investment activities in Ethiopia not only currently but in the future as well.’’

Yang stated that the Chinese government believe that there is a big potential between the countries for bilateral cooperation.’’

Noting that Chinese investors have been engaged in a lot of projects in collaboration with their Ethiopian partners, he expressed his hope through the cooperation between Chinese companies and relevant partners that Ethiopia will have another landmark project.

“I hope through the cooperation between Chinese companies and relevant partners of the Ethiopian side they will provide another landmark project for Addis Ababa.’’

With regard to trade and investment cooperation between the two countries, Yang said there is a big potential, especially in coffee, soybean, sesame, among others, in the agricultural sector.

The economic and commercial minister counsellor revealed that these agricultural products of Ethiopia have big demand in Chinese market.

“We are happy to work with our partners to promote Ethiopian agricultural products export to Chinese market,’’ he added.

He further called on Chinese investors to expand more investment in Ethiopia, especially in the energy, pharmaceutical and agriculture sectors.

Through these kinds of investment ties, the cooperation between the two countries will be more enhanced in contributing economical and social development for them, Yang elaborated.

He stressed that the two developing countries with their big population have big potential for the economic cooperation.

The economic and commercial minister counsellor noted that Ethiopia is a conducive destination for investment, especially for Chinese investors. And “so far China is the biggest economic partner and the largest FDI resource for Ethiopia.’’

Yang also said Ethiopia has a market  advantages as the market is huge and the country is at the center  of the African continent and conducive for foreign investors.