Addis Ababa — The Russia-Ethiopia business forum, titled "RUSSIA - ETHIOPIA: TIME DOESN'T WAIT!" launched today in Addis Ababa with the goal of expanding economic cooperation and strengthening bilateral relations between the two nations.
The forum highlights key sectors for collaboration, including transport, construction, IT and cyber-security, agro-industry, and tourism.
Some 34 Russian companies drawn from different parts of the country are participating in this Forum.
Chairman of the Coordination Committee on Economic Cooperation with African Countries (AFROCOM), Igor Morozov, opened the event, expressing optimism for Ethiopia's role as an emerging hub for Russian business.
"Today, we open this forum with great optimism, seeing Ethiopia as a dynamic hub for investment. We aim to attract Russian technologies, including electric transport, solar panels, and lithium batteries, to further enhance Ethiopia's growth," said Morozov.
He underscored Ethiopia's strategic position in Africa, particularly its recent inclusion in the BRICS.
Morozov also highlighted Ethiopia's rich cultural and historical connections with Russia, noting their shared heritage as a strong foundation for enduring partnership.
"The acceptance of Ethiopia into the BRICS," he added, "will facilitate payment systems and broaden the scope of our economic engagement."
"We opened here our continental office. From Ethiopia we have decided to enter other African countries and African markets. We have been observing that Ethiopia is developing dynamically and rapidly creating a favorable investment climate."
He cited the establishment of Free Trade Zones and Industrial Parks in several parts of Ethiopia as favorable for investment engagement. .
The Russian Ambassador to Ethiopia, Evgeny Terekhin, echoed these sentiments.
The ambassador stated that various efforts are being carried out to strengthen the bilateral economic ties of the two countries noting that the Russia-Ethiopia business forum opened today in Addis Ababa is part of these efforts.
As Ethiopia continues implementing its "Economic Reforms for Internal Development," backed by incentives in taxation, customs, and free trade zones, the forum promises Russian companies an array of new opportunities, the ambassador explained.
The Forum discussion focus on crafting a roadmap for collaboration, emphasizing sectors that are mutually beneficial to both nations. Ethiopia's vibrant 120 million-strong population and a skilled workforce in engineering and technical fields provide a strong base for projects in infrastructure and large-scale development, where Russian expertise can be leveraged.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
In recent years, Ethiopia's favorable business environment has drawn significant foreign investment from Chinese, Indian, and Turkish firms.
Russian companies are now looking to join this momentum, with Morozov and AFROCOM expressing confidence that the forum will attract more Russian investment across various strategic sectors.
As the forum progresses, Russia and Ethiopia are not only looking to expand trade but also to solidify their economic partnership, setting the stage for a future aligned with BRICS priorities and greater regional influence.
The "RUSSIA - ETHIOPIA: TIME DOESN'T WAIT!" forum signifies a new era of economic-driven diplomacy and collaboration between the two nations.
