16 March 2017

Ethiopia, Russia Sign MoU, Protocol Agreement

Photo: Igor3188/Wikimedia Commons
Moscow's international business centre.

Ethiopia and Russia signed Memorandum of Understanding (MoU) on Tourism and Culture and Protocol of the Intergovernmental Commission on Economic, Scientific, Technical and Trade Cooperation yesterday at the end of the 6th Meeting of the Intergovernmental Ethio-Russia Commission.

The Ethio-Russia joint technical committee also agreed to boost the two countries trade exchange and diversify tradable commodities in both countries' markets.

Following the signing ceremony, Co-Chair of the Commission and Minister of Cabinet Affairs Alemayehu Tegenu said the meeting was so crucial for Ethiopia in terms of expediting and taking additional measures to enhance its multifaceted cooperation with Russia.

The co-chair stated that the two countries agreed to diversify areas of cooperation in trade and investment fields and to establish industrial, educational and agricultural partnership.

"Ethiopia and Russia also come to terms to bolster ties in science and technology, energy and mining sectors as well as commercial air transport services," Alemayehu added.

Expressed Ethiopia's commitment for the realization of the agreements, he called on the Russian side to do the same.

Co-chair of the Russian side of the commission and Deputy of Natural Resources and Environment Evgeny Kiselev said for his part that his country is desirous of strengthening its economic relations with Ethiopia.

Kiselev noted that he had discussion with officials from Ministry of Mines, Petroleum and Natural gas on ways the Russian investors could involve in the energy and mining sectors.

Having expressed the growing demand among Russian investors to take part in Ethiopia's market, the co-chair expressed his conviction to the joint commission's roles in luring more Russian investment to Ethiopia.

The joint technical group agreed to establish follow up mechanism of the protocol and agreed to hold the 7th meeting of the Commission in Moscow in 2018.

Ethiopia

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