Chinese Ambassador, Chen Hai has described Ethiopia as Africa’s most dynamic market, praising the East African nation’s initiatives to facilitate foreign investment and trade as bilateral economic ties deepen significantly.

Speaking at the “Big Market for All: Export to China” Ethiopia session in Addis Ababa on Wednesday, the ambassador outlined China’s commitment to opening its market to Ethiopian goods through tariff reductions and trade facilitation measures.

“China has been continuously opening up its market to Ethiopia by extending zero tariff treatment and introducing a series of trade facilitation measures to transform its tax-related reduction arrangements for Ethiopia into tangible, accessible and beneficial outcomes,” Chen said.

The ambassador said these regulations mitigate market access expenses for Ethiopian small and medium-sized enterprises, facilitating the exportation of Ethiopian commodities to China.

He added that the measures incentivise Chinese and international investors to expand their capital commitments within Ethiopia’s key competitive sectors while fostering balanced bilateral trade growth.

“Today’s Ethiopian session demonstrates China’s emphasis on the bilateral relationship, its confidence in the potential of Ethiopia’s economic growth and our bilateral economic and trade cooperation,” Chen said.

The ambassador underscored that key priorities include enhancing the reputation and competitiveness of Ethiopian goods, enabling them to compete more effectively in global markets, and advancing Ethiopia’s industrialization and agricultural modernization objectives.

Both countries, which are members of the BRICS group, maintain effective coordination and collaboration on international trade and economic matters, a joint effort to champion what Chen described as “true multilateralism.”

China is Ethiopia’s largest trading partner and a major source of investment. The relationship extends beyond trade, with China emerging as a major contender for contracts at Ethiopia’s $12.5 billion Bishoftu International Airport project.

Out of ten groupings, 15 of the 33 spots on the shortlist were taken by Chinese companies, either on their own or through joint ventures, including Beijing Urban Construction Group, China Communications Construction Company, China Road and Bridge Corporation, and China Civil Engineering Construction Corporation.

Last year, Ethiopia opened conversations with China on converting its debt from the US dollar to the Chinese Yuan. The idea was initiated by Eyob Tekalign, governor of Ethiopia’s central bank, in September when he visited China.