Ethiopia-Russia business forum would serve as a critical venue to uplift the economic cooperation into higher levels between the two countries, Foreign Affairs State Minister, Mesganu Arga.
The business forum was underway in Addis Ababa under the theme: “Russia – Ethiopia: No Time to Wait,” with the goal of expanding economic cooperation and strengthening bilateral relations between the two nations.
Speaking at the opening session of the forum, State Minister Mesganu said the forum is a promising landmark to foster and bolster bilateral economic cooperation in trade and investment sectors between Ethiopia and Russia.
The countries have enjoyed a long standing spiritual and cultural connections which are foundations for the existing bilateral cooperation, the state minister indicated.
Accordingly, the Ethio-Russia business forum would further ignite the untapped economic opportunities and doing businesses between the two brotherly nations, he elaborated.
It is high time to uplift the volume of trade and investments by exploring new opportunities in these sectors, he emphasized, noting that enabling environments has been created in Ethiopia for Russian investors.
Energy, mining, agriculture, textile, pharmaceuticals, tourism, and among others are potential investment spheres to lure those investors, Mesganu pointed out.
Moreover, Ethiopia has become a preferred destination for investments and trade following the newly implemented comprehensive economic reform which has been creating a suitable environment for investment and easing of doing businesses in the country, he underlined.
On his part, Russian Ambassador to Ethiopia, Yevgeny Terekhin highlighted the robust foundation of the bilateral relationship between Ethiopia and Russia. He further emphasized the importance of collaborative platforms for enhancing investment, trade, and technology transfer between the two nations.
He added that the Ethio-Russia business forum will pave the way for increased economic engagement, underlining the potential benefits of the forum for both countries.
The forum will explore various avenues for partnership between business companies of the two countries, said Chamber of Commerce and Industry of Russian Federation Vice President, Vladimir Padalko.
He pointed out that some 26 Russian business companies are attending the forum and they are keen to invest in Ethiopia in areas of energy, agriculture, construction communication, information technology, among other sectors.
The Ethio-Russia business forum is anticipated to serve as a critical platform for fostering stronger economic ties, with discussions focused on investment opportunities and trade partnerships between the two nations.
Moreover, the forum would also lend the opportunity to reinforce Ethiopia-Russia relations, reflect a shared vision for future growth and collaboration by exploring various avenues for partnership and further solidifying the strategic alliance between Ethiopia and Russia, it was learned.
Source: ENA
