June 16, 2023, H.E. Ambassador Tefera Derbew delivered a speech representing African Ambassadors based in China, at the opening ceremony of the 13th China Overseas Investment Fair (COIFAIR) themed “Belt and Road Initiative: A New Decade, New Investment, New Development”, held in Beijing.
On the occasion, Ambassador Tefera mentioned that Africa and China, together with over one third of the world’s population, are an important force for advancing the development of our planet.
He reiterated that, in pursuing of economic development, China and Africa have been helping each other, and increasing their scope of cooperation for the mutual benefit of their people.
Stating that Chinese companies are playing various roles on African development projects, Ambassador Tefera said, Chinese banks, insurance companies, and investment funds make the projects possible by providing loans, insurance, and equity investments.
Moreover, the Ambassador said that Ethiopia, as one of the bright spots in Africa, and as the second most populous country in Africa with a population of over 120 million, can provide one of the largest domestic markets, and it has enormous potential for manufacturing industries.
Finally, Ambassador Tefera called upon Chinese institutions and companies to expand cooperation in exploring the opportunities of untapped investment potentials in the areas of agriculture, manufacturing, infrastructure, energy, and mining, among others, for the thriving of mutual development.
The China Overseas Investment Fair (COIFAIR) is an annual international conference jointly founded by the China Overseas Development Association and China Development Bank in 2009, which aims to build an international platform for Chinese enterprises to exchange information, interact, and carry out investment cooperation with other countries around the world.