Addis Ababa: Ethiopia and Russia have reached an agreement to further enhance investment in various sectors. Ethiopian Investment Commissioner Zeleke Temesgen engaged in discussions with a high-level Russian delegation headed by Economic Development Minister Maxim Reshetnikov in Addis Ababa.
According to Ethiopian News Agency, the commissioner briefed the delegation on the reforms implemented by the government to empower the private sector, establish a favorable investment environment, and expand investment efforts. He also emphasized Ethiopia’s commitment to strengthening the longstanding relations between the two countries in the economic sphere.
Economic Development Minister Reshetnikov conveyed Russia’s interest in enhancing ties in economic and private sector investment. The two nations have agreed to collaborate in areas such as mineral resource development, fertilizer production, renewable electricity generation and distribution, and the information and technology sectors. They also plan to modernize special economic zones among other initiatives.
The agreement includes the organization of joint investment and business forums aimed at identifying investment and project areas collaboratively.