The Conference on China-Ethiopia Production Capacity Cooperation took place in Zhejiang Provincial State on Sunday (September 6). This was third business forum attended by the high-level Ethiopian delegation in China, according to MoFA.
Opening the forum, Prime Minister Hailemariam said Ethiopia attached great importance to its relations with China and their strong mutual relation was the bedrock for investment flows to Ethiopia._
He said Ethiopia recognized China's contribution to enhancing its manufacturing sector and in the future it hoped to see more relocated, labour-intensive, manufacturing industries move to Ethiopia. This year alone some 300 Chinese companies have carried out pre-investment studies._
Zhejiang Provincial State is known for its small and medium scale industries in textile, leather and agroprocessing, and the Prime Minister said these were exactly the areas on which the Government was focused and in which Ethiopia needed quality investment.
He said Ethiopia had particularly favourable conditions for development of these sectors including a large and trainable young population, abundant land and water, cheap electricity and above all a favourable policy environment.
Ethiopian Investment Agency Director-General, Fitsum Arega, also addressed the forum and answered. Later at a dinner in his honour, Prime Minister Hailemariam and the Governor of Zhejiang Province, Li Qiang, discussed the wide range of areas in which the provincial state could work in cooperation with Ethiopia.
Governor Qiang showed strong interest in supporting Ethiopia's agricultural research and town planning and he said he would encourage businesses from the region to participate in industrial park development in Ethiopia.
During his visit, the Prime Minister also met with representatives of businesses from the region and members of the Ethiopian Diaspora living in Zhejiang and its vicinity. He discussed current developments in Ethiopia and the opportunities for investment.
He encouraged the members of the Diaspora to participate in their country's development by investing or joining in joint ventures with Chinese investors in areas where Ethiopia can best benefit from their knowledge.
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