China remains one of the strategic development partners for structural transformation in Africa, the African Union Commission (AUC) said.
A two-day conference on China and Africa is underway in Addis Ababa to enhance the development cooperation between the two sides.
In his opening speech, Special Adviser to Prime Minister Abiy Ahmed, Arkebe Oqubay said China is a ‘pragmatic and strategic development friend’ for African countries.
Noting that China is among the economies that grow fast, Arkebe said the country’s development experience is exemplary for Africa’s aspiration towards economic transformation.
Africa has been registering a 4.6 percent development over the last few years; however, Arkebe said the economy is suffering from lack of diversification. “It is the major bottleneck for having structural economic transformation in our continent.”
Arkebe urged the need for African countries to work on diversifying products to realize economic transformation.
Speaking to ENA Albert M. Muchanga, Commissioner for Trade and Industry at AUC said “great lesson can be learned from China that can lead into economic transformation in Africa.”