Ethiopia, China Sign MoU on Promoting Bilateral Trade, Investment

Addis Ababa, December  1 /2023 (ENA) Ethiopia and China have signed a Memorandum of Understanding (MoU) today with the view to promoting bilateral trade, investment and technical cooperation. 

Ministry of Finance and Ministry of Commerce of China signed the MoU in order to promote the implementation of the 8 major steps of the Belt and Road Initiative, further deepening the trade cooperation between Ethiopia and China.

According to a press release of ministry of finance, the memorandum will facilitate the establishment of a working group that promotes unimpeded trade under the China-Ethiopia Joint Commission.

Meanwhile, the ministry also conducted discussions about ways of enhancing the overall economic cooperation of the two countries and to monitor the progress of the implementation of the development project financed by China International Development Cooperation Agency (CIDCA).

The delegation from CIDCA led by Cul Jim, Head of the Department of Supervision of CIDCA, held discussion with Finance State Minister Semereta Sewasew.

During the discussion, Cul expressed his satisfaction over the growing cooperation status of the two countries that has been elevated to the status of All Weather Cooperation.

Finance State Minister Semereta on her part highlighted the overall development activities undertaken in the country and the significant role played by the Government of Ethiopia. 

She emphasized the readiness of the government to draw lessons from successful projects and work on ways to further address challenges during the implementation of projects by the two countries.