Ethiopia is actively seeking to deepen its economic ties with China, as evidenced by a recent high-level discussion between the Ethiopian Ambassador to China, Tefera Derbew, and Yu Zhuorui, Vice President of the China-Africa Development Fund (CAD). The meeting, held in Beijing, centered on exploring mutual cooperation opportunities and addressing areas of shared interest between the two nations.
Ambassador Tefera emphasized Ethiopia's commitment to strengthening existing partnerships and actively diversifying Chinese investments within the country. He specifically highlighted the immense potential of ongoing and future projects, including the new international airport, and drew attention to recent advancements within Ethio-telecom and the Ethiopian Investment Holding Group. The Ambassador provided an overview of Ethiopia's current economic development trajectory, extending a direct invitation to the CAD Fund to further explore diverse investment opportunities across various sectors.
On the Chinese side, Vice President Yu Zhuorui expressed his gratitude to Ambassador Tefera for facilitating the productive dialogue. He acknowledged the meeting's significance in further enhancing the robust bilateral relations between Ethiopia and China. Mr. Yu underscored the importance of continued joint consultations to foster collaborative development and identify new avenues for partnership. Notably, he expressed keen interest in the new international airport project, signaling a potential area for significant investment.
In a move that will likely facilitate smoother collaboration, Mr. Yu announced the assignment of representatives to the CAD Fund's branch office located here in Addis Ababa. This presence on the ground will allow for more direct engagement and exploration of potential projects.
Ambassador Tefera concluded the meeting by assuring the Vice President that the Ethiopian government would provide all necessary support and cooperation to the newly deployed staff of the China-Africa Development Fund in Addis Ababa.
The China-Africa Development Fund, established in 2006 under the Forum on China-Africa Cooperation, plays a crucial role in promoting practical economic cooperation between China and African nations by supporting and encouraging Chinese companies to invest in the continent. Since its inception in 2007 with an initial capital of USD 5 billion, the fund has been instrumental in fostering economic growth and development across Africa. According to ENA, this recent discussion signals a continued commitment to this partnership and the potential for further significant Chinese investment in Ethiopia's key development projects.