Russia and Ethiopia bilateral trade grows by nearly 40%

Addis Ababa hosted the inaugural meeting of the co-chairs of the Russia-Ethiopia Intergovernmental Commission on Economic, Scientific, and Technical Cooperation and Trade. The Russian delegation was led by Minister of Economic Development Maksim Reshetnikov, while Ethiopia was represented by Minister of Innovation and Technology Belete Molla. This is reported by the Ministry of Economic Development of the Russian Federation.

Highlighting Ethiopia’s role as a key partner for Russia in Africa, Reshetnikov noted that bilateral trade had surged by nearly 40 per cent in the first ten months of 2024 compared to the same period the previous year. He emphasised the need to explore new market opportunities to further expand trade.

Agriculture remains the most promising sector for collaboration, accounting for 89 per cent of total bilateral trade. Reshetnikov pointed out that Russian expertise in drought mitigation, land reclamation, and the development of drought-resistant wheat varieties could help address Ethiopia’s agricultural issues. He also stressed the importance of increasing exports of agricultural machinery, food products, and liquid fertilisers to enhance resilience against drought.

These initiatives are expected to strengthen Ethiopia’s food security and accelerate the development of its agricultural sector, a key driver of the country’s economy, the expert believes.

A significant milestone of the talks was the signing of a roadmap for Russia-Ethiopia collaboration on the peaceful use of nuclear technology. The agreement outlines practical steps for assessing the potential of nuclear energy in Ethiopia, developing nuclear infrastructure, and training specialists in the field.

To further this engagement, Russia invited Ethiopia to the next session of the commission in Moscow in June 2025, coinciding with the international tourism forum scheduled for 10-15 June.

Photo:  Ministry of Economic Development of the Russian Federation