China remains Ethiopia’s top foreign investor, surpassing USD 5 billion in investments last year. Dr. Yang Yihang, a senior Chinese diplomat, revealed nearly 2,000 Chinese projects are underway, creating 65,000 jobs. Over 500 Chinese firms operate in Ethiopia, introducing 223 new products in 2023 alone.
As agreed by their leaders, the upgraded “all-weather cooperation” between Ethiopia and China is a key driver. Dr. Yihang highlighted Ethiopia’s role in China-Africa cooperation, noting the second China-Africa forum held in Addis Ababa.
Collaboration under the Forum on China-Africa Cooperation (FOCAC) has yielded progress in renewable energy, agriculture, and manufacturing. Ethiopian product exports to China are growing at a staggering 46% annually.
While acknowledging the economic benefits of Chinese investment, Dr. Anteneh Getachew, an Ethiopian official, emphasized the need for a balanced trade relationship between the two countries.
Source: The Ethiopian Herald
