Leaders of hundreds of Chinese and Ethiopian companies participated in the event held last Friday and organized by the Beijing Sub-Council of the China Council for the Promotion of International Trade and the Beijing International Chamber of Commerce. Ethiopia’s Minister of State for Finance for Economic Cooperation Semereta Sewasew stated that bilateral relations are based on the principles of mutual benefit, respect and trust, which greatly contributes to Ethiopia’s rapid economic growth. “Over the past two decades, Chinese companies have successfully implemented more than 70 large and medium-sized projects, including two railway projects, power substations and transmission lines and telecommunications modernization,” she stressed. Sewasew recalled that Ethiopian-Chinese economic cooperation began in 1971, and mentioned the development of national mega projects with the support of China, including highways, airport terminals, and various manufacturing industries. “In the first five months of this year, Chinese companies invested more than 200 million dollars in about 100 projects in Ethiopia, creating more than 18 thousand local jobs,” he concluded.

Source: Ethiopian News June 24, 2024 14:34 UTC