Ethiopia, Russia join forces to enhance economic partnership and boost capital flow

Addis Ababa, February 20, 2025 (FMC) – Ethiopia and Russia have joined forces to enhance their economic partnership and boost capital flow, marking a significant step forward in their collaborative efforts.

Strengthening the two countries economic ties was highlighted during a meeting between Zeleke Temesgen, Chief Commissioner of the Ethiopian Investment Commission (EIC), and a high-level delegation from Russia led by Maxim Reshetnikov, the Russian Minister of Economy.

The discussions focused on enhancing economic collaboration and increasing investment inflow between Ethiopia and Russia, EIC reported on its social media today.

The Commissioner emphasized the enduring partnership and people-to-people connections between the two nations, highlighting the importance of leveraging these ties to boost economic ties and capital investment. He reaffirmed the Ethiopian government’s commitment to promoting and facilitating the entry of Russian investors into Ethiopia.

Zeleke outlined the government’s economic reform measures aimed at enhancing the role of the private sector in driving national growth, noting the early positive outcomes of these efforts.

Minister Reshetnikov expressed the Russian government’s dedication to strengthening economic ties with Ethiopia and facilitating investment flows. He highlighted key sectors of interest, including mining, fertilizer manufacturing, renewable energy production and transmission, #ICT, and the development of Special Economic Zones #SEZ .

Both parties agreed to collaboratively identify investment areas and projects, conduct tailored investment promotions for #Russian investors, and host joint investment forums to facilitate increased capital inflow.

Despite the strong historical partnership, the current level of Russian investment projects in #Ethiopia remains minimal, indicating significant potential for growth in this area.