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Addis Ababa hosts forum to deepen China-Ethiopia trade cooperation

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Addis Ababa hosts forum to deepen China-Ethiopia trade cooperation

2024-06-23 22:13 Last Updated At:06-24 08:17

The Beijing-Ethiopia Business Cooperation Promotion Conference was held in Addis Ababa on Friday, with both sides hoping to accelerate business exchanges for mutual benefit.

The event in the Ethiopian capital drew high-ranking officials from the Ethiopian government and the Chinese embassy in the East African country, along with a delegation of business leaders from Beijing and representatives from both Chinese and Ethiopian enterprises.

"I firmly believe this business cooperation conference presents significant opportunities to further enhance the growing bond of friendship between Ethiopia and China," said Gebeyehu Ganga, director-general of the Middle East, Asia and Pacific Affairs at the Ethiopian Ministry of Foreign Affairs.

The forum offered a rare opportunity for Ethiopia to market itself to Chinese investors, months after joining the BRICS group of emerging economies.

"As you very well know Ethiopia has a potential of natural resources, the weather, and as I mention it earlier for business the labor is also cheap. These witnesses, you know, them coming here in Ethiopia, will witness that still there is a potential in Ethiopia and somehow there is a kind of move which will take us to peace and security as well,” said Mesenbet Shenkute, president of the Addis Ababa Chamber of Commerce.

Chinese and Ethiopian enterprises signed several Memorandums of Understanding covering agriculture, tourism, technology, medicine and the digital economy. The Ethiopian side said it was eager to tap into China's globally acclaimed expertise in commerce and industry.

"More than 70 percent of our population is youth with an amazing commitment, mind set and also energy as well as passion. So, currently our start up and technology ecosystem is emerging. So, we need more countries like China to have a friendship, and to have the experience sharing and cooperation between the two countries," said Amia Gotu, president of the Ethiopian Youth Entrepreneurs Association.

China remains a major source of foreign direct investment and trade for Ethiopia. Conveners of the forum hope it will strengthen the existing trade ties between the two countries.

Addis Ababa hosts forum to deepen China-Ethiopia trade cooperation

Addis Ababa hosts forum to deepen China-Ethiopia trade cooperation

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Heavy rainfall in Hubei leaves 754 reservoirs exceeding flood storage capacities

2024-07-14 11:30 Last Updated At:12:07

The torrential rain that started to fall on Friday in central China's Hubei Province has left 754 reservoirs in the region exceeding flood storage capacities.

Due to increased discharge from the Three Gorges Reservoir and recent heavy rainfall, water levels in the Hubei section of the Yangtze River and in smaller rivers within the province are expected to rise in the coming days.

Multiple areas in Hubei, including Wuhan, Yichang, Jingmen, Xiaogan, and 11 other cities and prefectures, have also experienced heavy rainfall since Friday.

The heavy rainfall caused waterlogging in a low-lying residential area in Xiaogan City on Saturday, trapping several residents in their homes. Rescue personnel then used rescue boats to evacuate the flood-stranded residents to safety.

In Wuhan City, heavy rainfall accompanied by thunderstorms and strong winds caused multiple power line failures across the city. After nearly two hours of emergency repairs, power supply has been fully restored.

The heavy rainfall also caused the water level of Maojiahe Reservoir in Xingshan County, Yichang City, to rise rapidly. Considering the possibility of continued heavy rainfall, the reservoir started to discharge floodwater at 13:00 Saturday.

"We've quickly organized personnel to initiate emergency plans, notify every household, set up roadblocks on major transportation routes, and prohibit people and vehicles from entering the areas of flood discharge channels," said Cai Bishou, head of Pingshui Village, Gufu Town, Yichang City's Xingshan County.

Heavy rainfall in Hubei leaves 754 reservoirs exceeding flood storage capacities

Heavy rainfall in Hubei leaves 754 reservoirs exceeding flood storage capacities

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