(From Herald Editorial on 3rd of April, 2010)
The Chinese-Africa Development Bank (CAD Fund) has opened its branch office in Ethiopia recently. Of course, it reflects the strong alliance between the two sisterly countries. Furthermore, the move shows the confidence China has in Ethiopia and the region in general. After all, this is the second branch Office of CAD Fund on the African soil. The Fund would serve as a bridge between the Chinese companies and African projects. It is a fresh impetus to further boost mutual cooperation between the two countries.
Ethiopian Ambassador to China Hailekiros Gesesse said the Office would further strengthen the economic ties and cooperation between Ethiopia and China. It could also open up new vistas of cooperation between the two countries. The two countries have been enjoying cordial relations for four decades. Indeed, the two countries have raised their diplomatic relations to excellent level in the past 18 years. True, Ethiopia pursues vigorously pragmatic Foreign Affairs and National Security Policy and strategy. Its foreign affairs policy has been designed so as to contribute to its share to the fight against poverty and promotes rapid economic development, democracy and peace. Its success hinges on how well the nation does in its economic diplomacy. It helps create an enabling environment where citizens could step by step benefit from the sustainable economic development and democratization process. The foundation for the nation's foreign affairs policy is enhancing development, building a democratic order as well as ensuring national pride and prestige.
At present, Ethiopia has exemplary relationship with China. True China is one of the countries that robustly support Ethiopia's socio-economic development endeavors. So far business with China has been encouraging. And the government believes that China shares its development experiences with Ethiopia. It's also provides technical support to enhance Ethiopia's development. Furthermore, this Far East nation has repeatedly shown its unflinching commitment to support Ethiopia in the political and diplomatic fields too.
Thus, Ethiopia has to bolster up efforts geared towards strengthening the relations between the two sisterly countries. It is absolutely imperative that Ethiopia fully utilize Chinese development experiences as well as training and technical assistance. True, China is making stride in the area of foreign investment. Thus, Ethiopia needs to exert sterling efforts to promote its investment and trade opportunities to attract Chinese companies. Similarly, the government needs to work with the Chinese Government and companies to secure a market for the export products of Ethiopia in China.
Therefore, the new CAD Office would facilitate investment activities launched by the Chinese companies here in Ethiopia. So it is vital that the government and stakeholders provide the necessary support to the successful operation of the Fund in Ethiopia. It is strongly felt that, the growing Chinese companies in Ethiopia would significantly support the rapid economic development of the country. The Fund would help Ethiopia become a magnet for Chinese new investment. Therefore, the nation has to capitalize on CAD Fund to attract more Chinese companies and boost investment activities in the country.