China Industries Federation keen to promote business ties with Ethiopia

Addis Ababa, July 14 (WIC) - All-China Federation of Industries and Commerce (ACFIC) expressed desire to promote trade and economic relations with Ethiopia. The Federation here on Friday signed a Memorandum of Understanding (MoU) to work together with Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA).

Federation First-Vice Chairman, Quan Zhezhu on the occasion said Chinese investors are keen to invest in Ethiopia making use of the existing favorable trade and investment opportunities in the country.

The Chairman said the federation is undertaking activities to further strengthen trade and development ties between Ethiopia and China.

The MoU is signed to work in collaboration with ECCSA in the areas of trade, technology, industry and other sectors, he said.

ECCSA President Mullu Solomon on her part said the MoU will help to further enhance existing economic and development cooperation between Ethiopia and China.

Mullu said the MoU will help to balance trade exchange volume between the two countries.

Chinese investors with over 2.4 billion USD combined capital received licenses to undertake 938 projects between the years 1998 and 2012. (ENA)