ADDIS ABABA, May 12 (Xinhua) -- Ethiopia's export to China has registered steady growth amid booming trade and investment cooperation between the two countries, Chinese Ambassador to Ethiopia Zhao Zhiyuan said Thursday. In 2021, compared with the previous year, Ethiopia's exports to China increased by 8 percent as new Foreign Direct Investment (FDI) from Chinese companies to Ethiopia grew by 346 percent, the official said. Zhao made the remarks during the China-Ethiopia Investment and Trade Cooperation Forum that was co-hosted by the Chinese Embassy in Ethiopia, the Ethiopian Investment Commission (EIC) and the Investment Promotion Agency of the Ministry of Commerce of China on Thursday in the Ethiopian capital Addis Ababa. The value of newly signed contract projects by Chinese companies in Ethiopia was up by 25 percent in the same period, Zhao said. According to the Chinese ambassador, Chinese FDI in Ethiopia and other main indicators of bilateral commercial cooperation has maintained good momentum during the first quarter of the current year.

Source: Ethiopian News May 13, 2022 00:54 UTC