In an exclusive interview with Fana Digital, Ambassador of China to Ethiopia, Chen Hai, stated that his government fully supports Ethiopia’s peaceful efforts to get access to the sea.

“Ethiopia has a unique geopolitical position in the region, the Ambassador said, adding that the country is in a position to play a very important in connecting nations in the region and serving as a crucial gateway role to the African continent,” the Ambassador stressed.

We support the efforts by the Ethiopian government to facilitate the linkage of the land of the nation to the ocean and the sea. I believe that the effort made by the Ethiopian government could be fruitful and contribute more to the regional peace and stability, the Ambassador underscored.

Regarding Ethiopia’s membership to BRICS+, the Ambassador noted that, “I once again congratulate the government and the peoples of Ethiopia on nation’s official membership to the platform.” (FBC)

Ethiopia and Italy have reviewed in detail the progress made in implementing the agreement on job creation-oriented skills and infrastructures development.

The progress of the implementation of the agreement and avenues for further cooperation were discussed during a meeting between Ethiopia’s Minister of Labor & Skills Muferihat Kamil and an Italian high-level delegation at the former’s office in Addis Ababa.

Following her meeting at her office in Addis Ababa, Muferihat said in a social media post published this morning that the discussion has also provided an opportunity to outline the next steps.

The recently signed agreement aims at supporting decent job creation by enabling the flow of skills, also involving Italian excellences, for improving production processes and access to markets, particularly of women (min. 50%) and young people.

It will contribute to the national drive to respond to the demand for employment of the approximately 2 million new young people who annually aspire to enter the job market. Specifically, the agreement will finance infrastructural interventions to create a Skill Park in Addis Ababa – the first of its kind in Africa, inclusive of a Centre of Excellence for Fashion and Design, and an enterprise Incubator/Hub in Jimma. (FBC)

Ethiopian Prime Minister Abiy Ahmed rang a Wall Street-style bell to officially launch the country’s first stock exchange in 50 years on Friday, part of efforts to liberalise the struggling economy. Only one company was listed on the exchange on opening day — Wegagen Bank — but an official said they were aiming to eventually include 90 firms and four million investors, without setting a timeline…Since taking power in 2018, Abiy has been a vocal supporter of opening up the heavily state-controlled economy to competition and foreign investment. But internal conflicts — including a devastating civil war in the northern Tigray region between 2020 and 2022 — have led to sanctions by the United States and hampered reforms…Ethiopia has not had any form of stock exchange in 50 years, since the 1974 fall of Emperor Haile Selassie and the rise of a Marxist-inspired regime, known as the Derg, which nationalised the economy. (AFP)Ethiopia

Mercantilism was an economic system of trade that spanned the 16th century to the 18th century. Mercantilism was based on the principle that the world’s wealth was static, and consequently, governments had to regulate trade to build their wealth and national power. Many European nations attempted to accumulate the largest possible share of that wealth by maximizing their exports and limiting their imports via tariffs.