Ethiopia strengthens trade and economic ties with Russia

Novosibirsk City Chamber of Commerce and Industry  took part in the Russian-Ethiopian Business Forum, which was held at the Russian Chamber of Commerce and Industry on February 5.

The event was attended by the Vice-President of the Russian Chamber of Commerce and Industry Vladimir Padalko, representatives of chambers of commerce and industry from Russian regions, as well as members of the delegation of the Federal Democratic Republic of Ethiopia.

Vladimir Padalko in a welcoming speech noted the increasing trade turnover between Russia and Ethiopia and emphasized the importance of building cooperation directly, excluding intermediaries. Since the beginning of 2024 Ethiopia has officially become a member of BRICS, which will bring the cooperation between Ethiopian and Russian business to a new level.

Ambassador Extraordinary and Plenipotentiary of Ethiopia to the Russian Federation Mr. Cham Ugala stressed the high level of political relations between the two countries and expressed hope for strengthening trade and economic ties, noting that cooperation with Ethiopia will allow Russian entrepreneurs to enter the market of the African continent.

President of the Ethiopian Chamber of Commerce and Industry and Sectoral Associations Mr. Melaku Ezezew Ienyeneh spoke about the prospects for the development of bilateral ties between the entrepreneurs of the two countries.

Chairman of the Coordinating Committee for Economic Cooperation with African Countries (AFROCOM) Igor Morozov, noted that the opening of the Ethiopian market is a new impetus to expand trade for Russian, especially regional companies and enterprises. In the capital of Ethiopia, where the best conditions are created, the model of doing business for Russian regions in Africa has been worked out.

Head of the Ethiopian Investment Commission Ms. Hannah Arayasellasi predented the investment opportunities for the Russian entrepreneurs, as well as Director General of Economic Affairs of the Ministry of Foreign Affairs Mr. Ababi Demissie presented the tourism and export potential of Ethiopia.

Summing up the meeting, speakers answered relevant questions from entrepreneurs and representatives of chambers of commerce and industry from Russian regions.

 

Press Service of the NCCCI

February 6, 2024