The Addis Ababa-Ethiopia Business Cooperation Promotion Conference took place in Addis Ababa on Friday, aiming to foster increased business interactions for mutual advantage. The high-profile event brought together top officials from the Ethiopian government, the Chinese embassy in Ethiopia, and a delegation of business leaders from Beijing, as well as representatives from Chinese and Ethiopian enterprises.
Gebeyehu Ganga, the director-general of the Middle East, Asia, and Pacific Affairs at the Ethiopian Ministry of Foreign Affairs, emphasized the significance of the conference in strengthening the friendship between Ethiopia and China. This cooperation platform allowed Ethiopia to showcase its potential to Chinese investors, especially after joining the BRICS group of emerging economies.
Mesenbet Shenkute, president of the Addis Ababa Chamber of Commerce, highlighted Ethiopia’s abundant natural resources, favorable weather conditions, and cost-effective labor force as key attractions for business collaborations. The forum witnessed the signing of several Memorandums of Understanding between Chinese and Ethiopian enterprises across sectors like agriculture, tourism, technology, medicine, and the digital economy, showcasing the eagerness of Ethiopia to leverage China’s expertise in commerce and industry.
Amia Gotu, president of the Ethiopian Youth Entrepreneurs Association, emphasized the youth-driven entrepreneurial spirit in Ethiopia and the need for countries like China to foster friendship and knowledge exchange to enhance the emerging start-up and technology ecosystem in the country.
China continues to be a significant source of foreign direct investment and trade for Ethiopia, with the forum organizers optimistic about further strengthening the trade ties between the two nations.
In a separate development, central China’s Hunan Province is facing challenges due to rain-triggered floods, impacting road infrastructure and power supply in Wuqiangxi Township. The local authorities are undertaking emergency repairs and precautionary measures against secondary disasters caused by the continuous rain. Efforts are also being made to restore communication services and address the pressing issue of power restoration in the affected areas.
The province has experienced heavy rainfall, leading to disruptions in transportation, electricity, and communication in certain villages. Despite ongoing repair efforts, frequent landslides and road damages pose challenges. Local authorities are working to restore road access and deliver essential supplies to affected villages amidst unpredictable geological disasters.
The meteorological observatory has issued alerts for heavy rainfall in Hunan Province, necessitating enhanced response measures and continuous monitoring of the situation. Efforts are underway to mitigate the impact of the rain-induced disasters and restore normalcy in the affected areas.
