Eritrean delegation led by Mr. Hagos Gebrehiwet, Head of PFDJ Economic Affairs, met and held talks with Mr. Wang Yi, Foreign Minister of the People’s Republic of China in the sideline of the meeting on the Implementation of the Follow-up Actions of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).
The two officials discussed on bilateral ties of cooperation and regional and international issues of mutual interest.
Mr. Hagos underlined the long-standing ties between the two countries, Eritrea’s development matrix that is based on the promotion of trade and investment as well as China’s support in the past years which has been impacting in several sectors.
>> ALSO READ : Foreign Ministers of China and Eritrea Hold Talks
Foreign Minister Wang Yi on his part indicating the historic relations between Eritrea and China expressed his country’s readiness to work with Eritrea at regional and global forums.
Indicating on significance of Eritrea’s strategic location, Mr. Wang commended the active involvement of Eritrea in the Horn of Africa and expressed readiness to develop cooperation with Eritrea in the sectors of construction, health as well as oil exploration.
At the meeting the two sides identified areas of cooperation and discussed on their implementation.
Mr. Hagos underlined the long-standing ties between the two countries; Eritrea's development matrix that is hinged on the promotion of trade and investment as well as China's support in the past years which has been impacting in several sectors. pic.twitter.com/9fAJjIeKT3
— Yemane G. Meskel (@hawelti) June 25, 2019
Eritrea: China’s Defba Oil Share Company Signs Oil Exploration Agreements
(06 Oct 2008) – The Government of Eritrea has signed two agreements with Defba Oil Share Company [a Chinese-Eritrean JV] on oil exploration and development. Accordingly, the company would undertake oil exploration activities in two blocks of the Eritrean northern territorial waters.
The Defba Oil Share Company has been set up through the partnership of the Eritrean government and Energy Alliance Company W.L.L.
The agreements were signed in Asmara by Mr. Tesfai Gebreslasie, Minister of Energy and Mines, on the Eritrean side, and Mr. Shi Jicheng, General Manager of Defba Oil Share Company, on the side of the company.
Oil exploration off Eritrea began in earnest in the 1960s, but stopped largely due to disappointing results and insecurity.
Eritrea’s 30-year independence struggle against Ethiopia and a 1998-2000 border war with its larger neighbour has meant that much of its natural resources remain untapped.