Russia and Ethiopia boosting economic ties

Prime Minister Abiy Ahmed has stressed the importance of Russian investments at an international forum in Addis Ababa

A Russian delegation led by high-ranking officials met with Ethiopian Prime Minister Abiy Ahmed at the ‘Russia-Ethiopia: Time Doesn’t Wait’ international business forum in Addis Ababa, the press service of the Roscongress Foundation reported on Thursday.

Abiy Ahmed stressed the importance of attracting Russian investments into key sectors of the Ethiopian economy, including agriculture, information and communication technologies, mining, and engineering. The prime minister hailed Ethiopia’s longstanding relationship with Russia.

The Russia-Ethiopia Economic Forum was organized by the Coordination Committee for Economic Cooperation with African Countries (AFROCOM) and the Chamber of Commerce and Industry of the Russian Federation, with support from the Roscongress Foundation. The event brought together Russian industrial, agricultural, IT, and banking companies to explore opportunities in Ethiopia’s growing economy, and featured Ethiopian industrial giants such as Ethiopian Investment Holding, Ethio Telecom, Ethiopian Construction Works Corporation, Bole Lemi Industrial Park, and Kilinto Industrial Park.

The forum took place November 12-14 in Addis Ababa. “The Economic Forum in Addis Ababa should lay the foundation for promoting Russian high-tech products and localizing enterprises whose products are in demand in the Ethiopian market,” AFROCOM Chairman Igor Morozov said.

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This approach, according to Morozov, will help Russian entrepreneurs assess export potential and establish critical local partnerships.

The forum brought together Russian and Ethiopian business leaders, with speakers including Vladimir Padalko, the vice president of the Chamber of Commerce and Industry of Russia, and the deputy minister of internal affairs of Ethiopia, Mesganau Arga.

Just weeks before the forum, Abiy Ahmed took part in the BRICS Summit in Kazan held from October 22 to 24, where he met with Russian President Vladimir Putin. Following this, a high-level Ethiopian delegation led by H.E. Dr. Gedion Timothewos took part in the inaugural Ministerial Conference of the Russia-Africa Partnership Forum in Sochi November 9-10.

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