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ADDIS ABABA, June 19 (Xinhua) -- A delegation of 70 companies from Shenzhen City, China's innovation hub, is attending a show in Ethiopia's capital Addis Ababa and locals are thrilled about the ample business opportunities on the horizon.


The delegation is in the east African country for the China (Shenzhen) Trade and Investment Promotion Meeting and Shenzhen Products show from Monday to Tuesday.


Lu Pengqi, Vice Chairman of China Council for the Promotion of International Trade (CCPTI) says there is good reason why business delegation from Shenzhen will attract attention.


"With Shenzhen's Gross Domestic Product (GDP) reaching at 283 billion dollars in 2016 and GDP per capita standing at 25 Cheap Sonny Gray Jersey ,000 dollars, the city is one of China's most developed and richest," Lu said.


Shenzhen transformed from little more than a fishing village to "China's Silicon Valley" in less than 40 years. It is home to a population of nearly 12 million and more than 5,300 Chinese enterprises including tech giants Huawei, ZTE, and Tencent Cheap Aroldis Chapman Jersey , which in total have made overseas investments estimated at 80 billion U.S. dollars.


While trade relations between Ethiopia and its top trading partner China has reached 3.6 billion dollars in 2016, investment from Shenzhen city and Guangdong province to Ethiopia still lags compared to other Chinese provinces, says Tadesse Haile, Ethiopia's state Minister of Industry.


"Ethiopia offers Shenzhen a huge market as a next best destination in Africa, complemented by its desire to be a leading light manufacturing hub and middle income economy by 2025," says Haile.


Ethiopia's state minister of Industry was in particular referring to Shenzhen's reputation for knowledge intensive industries in addition to labor intensive industries like Textile and leather.


With Shenzhen popularly called China's "Silicon valley" for its reputation as innovation and entrepreneurship center Cheap C.C. Sabathia Jersey , Ethiopia plans to tap its Information Communications Technology (ICT) ambitions on experiences from the likes of this entrepreneurial Chinese city.


The East African nation with a population of about 100 million, is focusing on labor intensive industries like textiles and leather to give its 45 million workforce mass employment while hoping ICT will give it a technological edge.


Already Chinese government is facilitating business capacity training and management skills to Ethiopian business community and experts.


It is hoped that this will help in fostering technological innovation and creative talent as a springboard for competitive export to the global economy.


Ethiopia hopes to transform its largely agrarian economy with manufacturing taking 50 percent share of GDP, creating annually 2 million job opportunity for youth.


"Ethiopia is at a crossroads between the Middle East, Africa and Asia giving access to wide market and huge human capacity as well as capable of creating large job opportunity," says Afework Solomon, President of Ethiopia's Chamber of Commerce and Sectoral Associations (ECSA).


Fitsum Arega Cheap Greg Bird Jersey , Commissioner of the state owned Ethiopian Investment Commission (EIC) points to another advantage the country has to attract Shenzhen investors.


"Ethiopia has constructed, is constructing or plans to construct 13 industrial zones across the country using Chinese expertise and companies for the most part," he says.


Arega also points labor cost being 10 times cheaper than Shenzhen, companies can invest in sectors like textile and apparel and be assured of good return on their investments.


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