Your Excellency, Mr. Hailemariam Desalegn, Deputy Prime Minister and Minister of Foreign Affairs,

Your Excellency, Mr. Debretsion Gebre-mikael, Minister of Communication and Information, Board-Chairman of the EEPCO.

Your Excellency, Mr. Wondimu Tekle, State Minister of Water and Energy,

Distinguished Guests,

Ladies and Gentlemen,

It is my great pleasure to attend today's Inaugural Ceremony of the BBDA Power Transmission Line and Substation Project. Please allow me, on behalf of the Chinese Embassy, to extend our warmest congratulations to the Ethiopian Electrical and Power Co. (the Owner of the Project), the Shanghai Electric Group Co. Ltd., (the Chinese Contractor), and all the Chinese and Ethiopian engineers and workers, who worked hard and made contributions to the project for the past two years. I would also like to express my hearty appreciation to the relevant authorities of the Ethiopian side for their kind support and cooperation to make the project smooth and sound.

The BBDA Power Transmission Line and Substation Project is one of the 16 projects financed by the Master Loan Framework Agreement with a volume of 500 million US dollars signed between the Chinese EXIM-Bank and the Ministry of Finance and Economic Development of Ethiopia at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2006. The completion of this project is another significant progress of this creative “Equal and Mutual-beneficial Cooperation Mechanism” between China and Ethiopia. This new mechanism has helped us to explore more spaces of cooperation so as to make good use of the Chinese side’s finance and technology, and meet the Ethiopian side’s urgent needs. I am so happy to see that the completion of this project will bring lights and warm to many Ethiopian homes and give boost to the social and economic developments.

Ladies and Gentlemen,

China and Ethiopia have enjoyed long-standing friendship. Entering the new century, the two sides set up the All-around Cooperative Partnership on the basis of equality and mutual trust, which has resulted in expanding trade, investment and fruitful cooperation in various sectors such as infrastructure, culture, education and health.

The Chinese Government has always been supportive and encouraging the Chinese companies to invest in Ethiopia and to play a positive role in helping Ethiopia's industrialization efforts. China has become one of Ethiopia’s most important trade partners and sources of direct investment. The bilateral trade volume for 2010 amounted to US$1.48billion, and the bilateral trade is developing towards more balanced manner. According to the Ethiopian Investment Agency (EIA), 1261 investment licenses was issued to Chinese investors up to December 1, 2010, with a total investment volume of 43.6 Billion Birr, among which 253 invested enterprises are under operation.

Ladies and Gentlemen,

Ethiopia is now making every effort to carry out its Growth and Transformation Plan (GTP), in which infrastructure construction is an important part. The Chinese National People’s Congress, which concluded a few days ago, adopted the 12th Five-Year Programme. The 12th Five-Year Programme of China and the GTP of Ethiopia coincide with each other, and share similarities in many areas. China is ready to share its experiences and work with Ethiopian side in its efforts to implement the GTP and in furthering all round cooperation for truly win-win results.

Thank you.