Reshetnikov pointed to the growth of mutual trade between Russia and Ethiopia by almost 40%

Bilateral trade between Russia and Ethiopia has grown by almost 40%. This was announced on February 19 by Russian Minister of Economic Development Maxim Reshetnikov during the first meeting of the co-chairmen of the intergovernmental Russian-Ethiopian commission on economic, scientific and technical cooperation and trade.

Reshetnikov called Ethiopia one of Russia's key partners on the African continent, noting that the countries are actively developing mutually beneficial cooperation.

"At the end of 10 months of 2024, bilateral trade, compared to the same period last year, increased by almost 40%," he said.

According to the minister, agriculture is the most promising area of cooperation between the two countries, with food accounting for 89% of total mutual trade. It is possible to expand cooperation in agriculture due to the active use of competencies of Russian specialists in combating drought, which restrains the development of agriculture in Ethiopia, Reshetnikov said.

"Russia has faced a similar problem. Therefore, our agrarians have at their disposal rich experience in land reclamation and breeding of drought-resistant wheat varieties," the economic development minister said.

He added that in the fight against drought will also help to increase the supply of finished agricultural products: machinery, food and liquid complex fertilizers.

It is also specified that Reshetnikov and the co-chairman of the Ethiopian part of the intergovernmental commission, the Minister of Innovation and Technology of the country Belete Molla discussed the possibility of realization of joint projects in the field of information and communication technologies, education, medicine, mass communications and training of professional staff.

During the meeting, a roadmap for the development of cooperation between the Russian Federation and Ethiopia in the field of nuclear technology for peaceful purposes was signed.

In addition, the Russian delegation proposed to their Ethiopian counterparts to resume regular work of the bilateral intergovernmental commission and suggested holding the next meeting in Moscow, in June 2025.

"The Russian government assigns the Russian-Ethiopian intergovernmental commission a key role in increasing cooperation in the economic sphere. Constant dialog will allow our countries to fully disclose the potential of mutually beneficial cooperation," Reshetnikov concluded.

"Ethiopia's huge market is attracting Russian companies"

Russian Ambassador to Addis Ababa Yevgeny Terekhin on the African country's membership in BRICS, high-level contacts and expansion of direct air service

Earlier, on February 17, Reshetnikov said that the Russian economy is open to multilateral cooperation and is not afraid of competition. He pointed out that over the past year, the Russian Federation has significantly increased interaction with African countries.