Ethiopia’s exports to China rise by 8% in 2021 over 2020 figure

Date:

Share post:

Ethiopia’s export to China witnessed a steady growth amid booming bilateral trade and investment cooperation, according to Chinese ambassador to the country Zhao Zhiyuan, who recently said Ethiopia’s exports to China increased by 8 per cent in 2021 compared with 2020 as new foreign direct investment (FDI) from Chinese companies grew by 346 per cent.

 

The value of newly signed contract projects by Chinese companies in Ethiopia was up by 25 per cent in 2021, Zhao said.

Zhao made the remarks during the China-Ethiopia Investment and Trade Cooperation Forum co-hosted by the Chinese Embassy in Ethiopia, the Ethiopian Investment Commission (EIC) and the Investment Promotion Agency of the Ministry of Commerce of China in Addis Ababa.

Chinese FDI in Ethiopia and other main indicators of bilateral commercial cooperation have maintained sound momentum during the first quarter of 2022, he was quoted as saying by a news agency.

Zhao said for consecutive years, China has been Ethiopia’s biggest trading partner, the top source of FDI and the largest project contractor, as the two countries deepen cooperation through the Belt and Road Initiative.

Addis Insight
Addis Insighthttps://addisinsight.net/
Addis Insight is Ethiopia’s fastest growing digital news platform, providing consumers with the latest news from Ethiopia and its diaspora. We provide marketers with innovative opportunities to leverage our stories and overall brand with a fiercely curious and highly engaged audience.
spot_img

Related articles

Ethiopia Earns $55 Million from Bitcoin Mining: A Growing Global Player

Ethiopia’s role in the Bitcoin mining industry is on the rise, bringing in a remarkable $55 million over...

Ethiopian Airlines’ Airbus A350-1000 Makes First Flight to Lagos

Ethiopian Airlines has announced that its first Airbus A350-1000 aircraft in Africa will make its inaugural flight to...

Ethiopian Airlines Launches Air Congo: A New Chapter in African Aviation

Ethiopian Airlines, Africa's largest and most ambitious airline, is preparing for its newest venture, Air Congo, set to...

Ethiopia’s 900 Billion Birr Bond Plan: EEP, Sugar Corporation, and Railway Corporation Lead in Major Debt Overhaul for Commercial Bank

The Ethiopian government has unveiled a major financial proposal to issue 900 billion birr in government bonds. This...