FOCAC Effective & Robust Platform in Promoting China-Africa Cooperation: Finance Minister

Forum on China-Africa Cooperation (FOCAC) mechanism has proven to be an effective and robust platform in promoting China-Africa cooperation, Ethiopian Finance Minister Ahmed Shide said.

Writing in connection with the 8th Forum on China-Africa Cooperation Summit to be held in Dakar, Senegal, from 29-30 November 2021; the minister said FOCAC mechanism has been promoting China-Africa cooperation by supporting critical infrastructure development to engender greater connectivity, boosting trade activities and stimulating foreign direct investment in the continent.

It is further creating an enabling environment to unleash entrepreneurship and new local employment opportunities, he added.

The successful completion of the Ethio-Djibouti Railway project is one of the early successes of FOCAC in creating a conducive environment for regional integration in Africa and complementing the African Continental Free Trade Area.

China has been Ethiopia’s biggest trading partner, largest source of Foreign Direct Investment and the biggest infrastructure contractor for many years, Ahmed said, adding that several road infrastructure projects are completed with a direct impact on improving commerce and livelihood of Ethiopians under the FOCAC framework and with the support and assistance from China.

According to the minister, the support extended from China has been also instrumental in upgrading and construction of airports, water and power plants, factories and industrial parks which have a profound impact on jobs creation and poverty eradication.

He further stated that the cooperation between the two countries in the realm of skill development has been instrumental in the realization of the construction of the African Leadership Excellence Academy, the Addis Ababa Riverside Green Development projects, and the first and second satellites which were both launched with China’s assistance.

Ethiopia and China have forged important and unwavering friendship in this changing world, including in the face of the COVID-19 pandemic, the minister pointed out.

He underscored that with shared belief on mutual benefit, sustainability, inclusive and independent development; Ethio-China’s all-round cooperation would get stronger via new forms of cooperation, such as digital economy, green development, aerospace and many more new and exciting endeavors.

Source: Ethiopia News Agency