AECAS vows to exhort Russian companies to explore investment potentials in Ethiopia

Addis Ababa, April 23, 2024 (FBC) – The Association of Economic Cooperation with African States (AECAS) vowed to exhort Russian companies to explore investment potentials in Ethiopia.

Galli Monastyrova, a member of AECAS, in an exclusive interview with FBC, Ethiopia is a suitable and lucrative investment destination for Russian firms, adding “the country is also a gateway for the enormous African market.”

“Ethiopia and Russia have a long and historical relationship. People of the two countries share many things in common. Besides, Ethiopia is endowed with immense natural resources. And now there is an enabling business atmosphere in the country. All these make Ethiopia a favorable destination for Russian investments,” she noted.

AECAS is committed to contribute to the efforts to promote the huge investment potentials in Ethiopia, Galli asserted, pledging to organize continuous platforms she said would help encourage Russian investors to explore investment opportunities in the country.

“We have recently organized an exhibition of selected cartoons of Boris Efimov in partnership with the Pushkin Center in Addis Ababa. This exhibition was tailored to cement cultural and people to people ties between Ethiopia and Russia. We will also facilitate other events can show trade, investment and tourism potentials to Russians,” she pointed out.

She stressed the need to further strengthen people to people ties between the two countries their by promoting cooperation in the trade and investment sector.

Saying that Ethiopia has a number of natural and historical attraction sites and diverse cultural values, Galli affirmed AECAS’s readiness to further cement cooperation between Russia and Ethiopia in the tourism sector.

Galli Monastyrova led a Russian delegation comprised of social Russians from various sectors to Ethiopia.

Nikolay Starikov, a Russian writer and social activist who is also the member of the delegation, stressed the need for Russia and Ethiopia to transform their longstanding bilateral relations through strengthened trade and investment cooperation.

He called on public figures and scholars to contribute their part to the ongoing efforts to bolster multifaceted cooperation between the two countries.

Saying that Ethiopia is always in the forefront of continental initiatives, Nikolay stated that Ethiopia will also succeed in its ongoing efforts to ensure economic integration in the region.

He also commended the activities Ethiopia has been undertaking to preserve the spirit of the Victory of Adwa citing the construction of the Adwa Memorial in Addis Ababa as an exemplary achievement in this regard. “Keeping the spirit of the victory of Adwa would also help bring Africans together for a strong socio-economic resilience.”