Mayor of Dongguan Mr. Xiao Yafei (R) met with the delegation led by Mr. Teferi Melesse Desta (Consul-General of the Ethiopian Consulate General in Guangzhou) on 22nd May, 2018.
On 22nd May, Mr. Xiao Yafei (Mayor of Dongguan) met with the delegation led by Mr. Teferi Melesse Desta (Consul-General of the Ethiopian Consulate General in Guangzhou). Both sides discussed further cooperation in economy, trade, culture and education, and reached a productive consensus. Xiao Yafei said that Dongguan will continue to implement the national “Belt and Road Initiative” in depth and mobilize more Dongguan enterprises to invest in Ethiopia to develop international production capacity cooperation.
Xiao expressed his welcome to the delegation led by Mr. Desta and made brief introduction to the economic and social development of Dongguan. Xiao stated that Dongguan is one of the pioneers in China’s reform and opening up, and has a close and extensive connection with overseas countries. Dongguan and Ethiopia have maintained long-term, friendly and stable relations, with both having already established foundations in economic, trade and personnel cooperation exchanges. By February 2018, Dongguan has invested in five companies in Ethiopia, with a total investment of US$92.51 million. Among them, the largest investor is Dongguan Huajian Group, with a total investment of US$85.81 million.
Xiao said that there are broad prospects for the cooperation between Dongguan and Ethiopia owing to Ethiopia’s large population, large market, stable political situation and economic development. Dongguan will continue to implement the national “Belt and Road Initiative” to mobilize more high-quality companies to invest in Ethiopia, to strengthen exchanges and cooperation with sister city Addis Ababa, to conduct in-depth discussions on twinning between Dongguan and Ethiopian universities, and to further strengthen cooperation and exchange between the government, enterprises, and people in the fields of economy, trade, culture, education, and sports. He hoped that Consul-General Mr. Desta will continue to serve as a bridge between Dongguan and Ethiopia to further deepen friendly cooperation between the two sides.
Mr. Desta stated that Dongguan’s economic and social development has made remarkable achievements in the world and it would behove Ethiopia to study and learn from Dongguan’s development experiences. Ethiopia has one of the fastest economic growth rates in Africa and a large market space. In recent years, it has invested heavily in infrastructure construction and education. At present, five industrial parks have been established. It is hoped that under the “Belt and Road Initiative”, more Dongguan companies will invest in Ethiopia. He also hoped that both sides will strengthen exchange and cooperation in such areas as culture, education and sports.
Trade data between Dongguan and Ethiopia
In 2017, the total trade volume between Dongguan city and Ethiopia was 330 million RMB, a year-on-year increase of 66.3%.
Exports to Ethiopia totalled 240 million RMB, an increase of 94.8%; the main export products being automatic data processing equipment and associated components, textile yarns, fabrics products, radio equipment, industrial sewing machines, and footwear.
Imports from Ethiopia amounted to 92.76 million RMB, a year-on-year increase of 20.5%; the main import products included cattle leather and horse leather. From January to February 2018, Dongguan’s total trade with Ethiopia was 41.98 million RMB, showing a year-on-year increase of 7.3%.
(By Stefanie Tan and Sev Pischl)