WeMed Medical Joined The Trade Delegation To Ethiopia To Explore Cooperation And Promote Development
Recently, WeMed Medical participated in the economic and trade delegation to Ethiopia which was organized by CCPIT Beijing. Ethiopia has an important strategic position in Africa and is also the gateway to Africa. It is rich in resources, has a large and young population, and has a fast economic growth rate. The delegation visited the Chinese Embassy in Ethiopia, the Ethiopian Chamber of Commerce and Sectoral Associations, AACCSA, and the AUC in Ethiopia.
Beijing-Ethiopia Business Cooperation Promotion Conference was held in Addis Ababa, the capital of Ethiopia, with a call to further augment trade and investment ties between China and Ethiopia.
Speaking at the event, Ethiopia's State Minister of Finance for Economic Cooperation Semereta Sewasew said Ethio-Chinese economic cooperation is based on the principles of mutual benefits, respect and trust between the two nations, greatly contributing to Ethiopia's rapid economic growth.
"Over the past two decades, Chinese firms have successfully implemented more than 70 large and medium projects including two railway projects, power substations and transmission lines and modernization of telecommunication," Sewasew said.
Noting that the Ethio-Chinese economic cooperation began in 1971, the state minister said Ethiopia has accomplished mega projects with the full support of China which include expressways, airport terminals and various manufacturing industries.
She said the Chinese government has been financing development projects in Ethiopia mainly in the form of grants besides lending a helping hand to green development, food security, building hospitals, and offering medical supplies.
Gebeyehu Ganga, director general of the Middle East, Asia and Pacific Affairs at the Ethiopian Ministry of Foreign Affairs, said China's unwavering diplomatic commitment to collaborating with Ethiopia has borne fruits through the Forum on China-Africa Cooperation (FOCAC) and Belt and Road Initiative (BRI).
"China has been the largest trading partner with Ethiopia and top source of foreign direct investment (FDI) in the country, accounting for nearly 50 percent of all FDI inflow into the country," Ganga said.
He said with strong support from China and other member states of BRICS (Brazil, Russia, India, China and South Africa), Ethiopia's inclusion into the BRICS mechanism will undoubtedly expand its business exchanges and create larger investment opportunities in the East African country.
Yang Yihang, minister counselor at the Chinese Embassy in Ethiopia, said by May 2024, Chinese enterprises had participated in more than 2,000 projects in Ethiopia, with a total investment amounting to 5 billion U.S. dollars and creating about 610,000 job opportunities.
"In the first five months of this year, Chinese enterprises invested over 200 million U.S. dollars in about 100 projects in Ethiopia, creating more than 18,000 local jobs," Yang said.
Indicating that Ethio-Chinese diplomatic relations elevated to the all-weather strategic partnership in October 2023, Yang said there will be a great potential for future cooperation between Beijing and Ethiopia in modern agriculture, biotechnology, infrastructure development, digital economy and operation of industrial parks.
The conference, hosted by China Council for the Promotion of International Trade Beijing Sub-Council and Beijing Chamber of International Commerce, also saw the signing of memoranda of Understanding among Chinese and Ethiopian enterprises, aiming at enhancing their business relations, exchanging data and information and organizing joint trade fairs and exhibitions in the future.
During the corporate matchmaking session of the conference, Mr. Li Dashan, Overseas Marketing and Sales Director of WeMed Medical, introduced product solutions and global business of WeMed Medical.
Witnessed by guests from Beijing and Ethiopia, WeMed Medical and its Ethiopian partners signed a memorandum of cooperation. Both parties will leverage each other's technical expertise and market experience in the medical field to provide high-quality medical services to the Ethiopian people.
During the visit to Ethiopia, the delegation, led by Wu Lanlan, deputy director of CCPIT Beijing visited the Chinese Embassy in Ethiopia. Yang Yihang, Minister Counselor of the Chinese Embassy in Ethiopia, introduced the relevant situation in Ethiopia and put forward targeted opinions and suggestions for enterprises to carry out trade and investment in Ethiopia.
The delegation also visited the Ethiopian Chamber of Commerce and Sectoral Associations and the AACCSA. Mr. Melaku Ezezew, Chairman of the Ethiopian Chamber of Commerce and Sectoral Associations, said that China is the largest source of direct investment in Ethiopia, and the two sides have carried out a large number of economic and trade cooperation projects. The Ethiopian Chamber of Commerce and Sectoral Associations will actively help connect with relevant domestic enterprises to promote more practical results.
Mr. Shibeshi Bettemariam, Secretary General of the AACCSA, said that as a friendly city chamber of commerce, Chinese companies are welcome to strengthen trade and investment in Ethiopia in areas such as agriculture, manufacturing, information technology, medical care, mining and tourism.
Taking the visit of delegation as an opportunity, WeMed Medical hopes to further deepen mutually beneficial cooperation with local partners and make positive contributions to building a high-level China-Africa community with a shared future in the new era and jointly building high-quality development of the Belt and Road.
