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People's Daily Online>>Foreign Affairs

Ethiopia, China sign agreement on trade, economic cooperation


09:18, November 17, 2011

ADDIS ABABA, Nov. 16 (Xinhua) -- Ethiopia and China on Wednesday signed an agreement on trade and economic cooperation at the Ministry of Finance and Economic Development (MoFED) in Addis Ababa, Ethiopia.

Jiang Yaoping, Chinese Vice Minister of Commerce, signed the agreement with Sufian Ahmed, Ethiopian Minister of Finance and Economic Development, and Wondirad Mandefro, Ethiopian State Minister of Agriculture.

With the agreement, China will provide a loan of 100 million U. S. dollars and donate 90 vehicles to Ethiopia.

According to MoFED, the loan will be used to finance implementation of the Addis Ababa Deep Well Water Supply projects while the vehicles will serve the state guests.

It was learnt on the occasion that the vehicles include 65 automobiles and 25 buses.

The agreement signed is one of the demonstrations of the good relations between China and Ethiopia, said Sufian Ahmed.

He said the relations between Ethiopia and China have been strengthened day by day, particularly the cooperation between the two countries has significantly increased in the last few years in the areas of trade, investment, and infrastructural development.

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