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Trade turnover between Russia and Ethiopia increased 2.2 times: the parties are preparing a business forum

Economy
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Russia and Ethiopia are increasing trade turnover, which has grown 2.2 times. The parties are preparing a business forum and online meetings for companies. Russia's assistance in Ethiopia's accession to the WTO and the exchange of experience in regulating the platform economy are being discussed.

Russian-Ethiopian economic relations are showing steady growth and are ready to reach a new level. This is evidenced by the results of recent negotiations between the leadership of the Ministry of Economic Development of Russia and the Ministry of Trade and Regional Integration of Ethiopia. The online meeting allowed the parties to discuss a wide range of issues related to the development of the bilateral trade and economic partnership.

The statistics speak for themselves: in the first six months of this year, the mutual trade turnover between the countries increased 2.2 times, reaching an impressive mark of 191.2 million US dollars. The main driver of this growth is a significant increase in imports from Ethiopia, where the supply of high—quality coffee traditionally holds a strong position. Russian representatives note that this positive trend clearly demonstrates the existence of significant untapped potential for further expansion of economic cooperation.

The key topic of the talks was preparations for the upcoming meeting of the intergovernmental commission on economic, scientific and technical cooperation, which is scheduled for November. As part of this important event, the parties intend to organize a large-scale business forum. Its goal is to create a direct platform for dialogue between Russian and Ethiopian companies, allowing them to discuss specific projects and prospects for cooperation without intermediaries.

To ensure effective preparation for this event, Moscow has taken the initiative to hold a series of specialized online conferences for the business community. During these virtual meetings, Russian manufacturers will be able to present a wide range of their products, from grain crops and mineral fertilizers to modern agricultural machinery. The Ethiopian partners, in turn, will have the opportunity to talk in detail about the specifics of their market, its needs and investment opportunities.

During the conversation, special attention was paid to the process of Ethiopia's accession to the World Trade Organization. The Russian side confirmed its readiness to provide comprehensive technical and advisory assistance to Addis Ababa on this difficult path. Such a step will not only strengthen Ethiopia's position in the global trading system, but will also open up new horizons for the Russian-Ethiopian economic partnership.

Another topic for a productive exchange of views was the regulation of the platform economy. Russian representatives shared information about new legislative initiatives in this dynamically developing field and expressed interest in sharing their experience with their Ethiopian colleagues. This area of cooperation is particularly promising in the context of the digitalization of the global economy.

At the end of the constructive talks, the Russian Minister invited his Ethiopian counterpart to pay an official visit to Russia. Such a visit could be an important step towards strengthening bilateral relations and would allow discussing further steps to implement the agreements reached in person.

The development of trade and economic ties between Russia and Ethiopia corresponds to the general trend of strengthening multipolarity in the global economy and diversifying international economic ties. The successful implementation of the initiatives under discussion can create a solid foundation for long-term and mutually beneficial cooperation between the two countries, contributing to their economic development and strengthening sovereignty.

The November meeting of the intergovernmental commission and the accompanying business forum are expected to become a catalyst for concluding new contracts and launching joint projects in various sectors of the economy, from agriculture and industry to digital technologies and services.

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