ADDIS ABABA, May 2 (Xinhua) -- The 3rd edition of China Trade Week (CTW) was launched on Thursday in Ethiopia's capital Addis Ababa, with the participation of Chinese producers and manufacturers that are keen on connecting with local and regional markets.

The three-day international trade fair, which is taking place with more exhibitors than the previous years, creates an important opportunity for local and regional businesses to develop direct trading links with high-end Chinese producers and solution providers, according to the MIE Group, the founding entity of CTW and main organizer of the event.

Speaking at the opening of the event, Misganu Arega, Ethiopia's State Minister of Trade and Industry, hailed the role the CTW event plays in promoting the long-standing relations as well as in trade and investment between Ethiopia and China.

"Events like this one play a pivotal role in promoting trade and investment, establishing a strong bond between the businesses of the two countries," the State Minister has said.

The MIE Group in collaboration with Prana Events has been organizing the CTW for the third time in a row, and the MIE Group Executive Chairman and Managing Director, Wang Hailing, said the number of exhibiting companies is increasing year on year.

"The 3rd edition of China Trade Week is another testimony of the ever growing strong relation between China and Ethiopia," Wang said.

In his opening remarks, the Permanent Secretary of Economic Diplomacy at the Ethiopian Foreign Ministry, Dewano Kedir, said that such opportunities of exhibition and trade fairs opened doors for Ethiopia to utilize the maximum potential of the Chinese and attract Chinese investments in Ethiopia's prioritized areas.

"The relation we have with China is, I can say, one of the best, and a model in Africa," he noted.

"This exhibition builds a great platform for business communication between China and Ethiopia," Dewano said.

Dewano added that it will create a favorable investment atmosphere for Chinese business leaders to understand the good business environment, favorable investment policies of Ethiopia and increase the export volume from Ethiopia to China.

Prana Event has been collaborating with the MIE Group for successfully organizing the event in the past two years, and Nebeyu Lemma, Managing Director of Prana Events, noted that the event has managed to help strengthen trade and investment as well as overall ties between the two countries

Some of the exhibitors told Xinhua that the event creates opportunity for them to promote their businesses to Ethiopian market and create business-to-business networks.

Stating the good opportunity created by the event, Teresa Luo from VINSHELLS, a Chinese business engaged in providing floor solution, said the firm plans to move more products into Ethiopian market.

Businesses in different sectors including light industry and textiles, construction materials and machinery and food and beverages, are participating in the event.