An Ethio-Russia Investment Forum has been held in Moscow this week. The forum was attended by Foreign Minister Tedros Adhanom, and Minister of Water and Energy Alemayehu Tegenu.

High-level officials from the Ethiopian Railway Corporation and the Ethiopian Electric Corporation and representatives of more than 60 governmental and private businesses also attended the meeting. Business owners attended are those working in leather and hides, horticulture, floriculture and grain and the oilseed trade.

During the discussions representatives of more than 30 Russian businesses involved in investment in Ethiopia participated.

The occasion helped to demonstrate Ethiopia’s sound macro economic policies. As well as underline the investment opportunities available in mining, electromechanical works, railway development, hydropower energy, construction, the production of large scale machinery and agro-processing.

Speaking on the occasion, Dr. Tedros noted that the Forum would help to further boost the historic ties between the two countries.

Dr. Micahel Margelov, the President’s envoy for Africa Cooperation, said Ethiopia was the closest African country to Russia in terms of culture, social and political relations, with links dating back to the time of the great poet, Alexander Pushkin.

Meanwhile, Dr. Tedros, held talks with Russia’s Foreign Minister, Sergey Lavrov, on bilateral relations on March 4, 2013.

The discussions focused largely on ways to increase the volume of trade between the two countries including the importance of signing agreements to facilitate trade and on the ratification of previous agreements by Moscow. 

Other areas covered by the two foreign ministers included scholarship opportunities in Russia, facilitation of technology transfers and ways to improve agricultural productivity and cooperation between Russia and Ethiopia in multilateral forums including the G-8. The two sides exchanged views on the current situation in Somalia, the peace process between South Sudan and Sudan. On the occasion Sergey Lavrov appreciated Ethiopia's efforts to the peace and stability of the region.

From Ethiopia Ministry of Foreign Affairs