ADDIS ABABA – Ethiopia and China on Tuesday agreed to elevate their partnership to an ‘All Weather Strategic Cooperation’ level.
This was announced after Prime Minister Abiy Ahmed met with President Xi Jinping at Beijing’s Great Hall of the People together with their respective delegations.
The two sides held “fruitful” bilateral talks on Tuesday that led to the establishment of an ‘All Weather Strategic Cooperation Partnership’ between the two countries.
This will elevate their previous ‘Comprehensive and Ensuring Strategic Cooperative Partnership’ forged in 2017, per the PM Office.
“China continues to be a critical partner for Ethiopia,” PM Abiy said, expressing his “Gratitude to President Xi Jinping for the warm welcome and the fruitful discussion.”
The Prime Minister also indicated the importance of Chinese investments in Ethiopia’s economy and encouraged more investments into the five key pillars of agriculture, manufacturing, ICT, mining, and Tourism.
China has become the leading source of foreign direct investment and a major trading partner not only for Ethiopia but also for the continent of Africa.
Abiy went to Beijing for the third BRF on Monday, leading a high-level ministerial delegation, and witnessed the signing of a dozen bilateral deals on the same day.
The delegation has also held discussions with the Chinese businesses at a Trade and Investment Forum today.
The forum that brought together more than 300 companies discussed the investment potential and opportunities in Ethiopia, particularly in areas set as priority sectors.
At the Forum, the Ethiopian Investment Commission (EIC) signed MoUs with two pharmaceutical companies as well as one Agro-processing firm. The three companies are all set to invest in Ethiopia, the EIC says, stating: “A major boost for our economy.”