China's central bank injected 55 billion yuan (US$8.3 billion) into the money market on Tuesday to ease a liquidity strain. [Photo/Xinhua]
[Photo/Xinhua]

The Ethiopian consulate in the Chinese city of Chongqing has recently held an event to introduce the East African country’s abundant investment opportunities, an Ethiopian official said on Friday.

Speaking to journalists, Dina Mufti, Spokesperson for Ethiopia Ministry of Foreign Affairs (MoFA), said the Ethiopian consulate in Chongqing earlier this month held an event to promote the east African country’s abundant investment opportunities.

“Additionally, the Ethiopian consulate in Chongqing also introduced to Chinese audience Ethiopian coffee products and Ethiopian coffee making process as part of Ethiopia’s economic diplomacy initiative,” said Mufti.

Ethiopia is one of Africa’s largest producers of Arabica coffee, in which coffee production is dubbed as the backbone of the country’s agriculture-led economy.

Ethiopia has ambition to penetrate the emerging Chinese coffee market to tap into the increasing demand for coffee among China’s young population.

China is already Ethiopia’s major export destination. According to official data from Ethiopian side, the two countries’ trade volume reached 5 billion U.S. dollars during the previous Ethiopian Fiscal Year, 2019/2020, which ended on July 8. Enditem

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Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.

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