Ethio-Russian manufacturing partnership beacon of success: Minister of Industry

Addis Ababa, December 18, 2023 (FBC) – The Ethio-Russia partnership in manufacturing is a beacon of collaborative success, Minister of Industry, Melaku Alebel said.

Russian business delegation led by Russia’s Head of Federal Agency on Mineral Resources, Eugeny Petrov is here in Ethiopia to explore investment opportunities.

The delegation held bilateral meeting with Minister of Industry, Melaku Alebel today.

During the occasion, the minister highlighted synergies and future possibilities that lie in the collaboration between the two countries in trade and investment, manufacturing sector in particular.

This partnership marks a significant journey of collaboration, promising to shape the future of the two nations, he elaborated.

“Our journey, rooted in mutual respect and shared interests, is more than just an intersection of two nations—it’s a testament to the power of unity in achieving common goals,” the minister added.

Ethiopia has made strides in sustainable development, the minister said, adding  the country is committed to a strategy that emphasizes inclusive and sustainable industrial development, critical to achieving national prosperity.

Moreover, Melaku added that Russia’s technological prowess complements Ethiopia’s dynamic economy, creating a synergy that is beneficial for both.

“Our relationship, extending beyond trade, is anchored in investment and cultural exchange, fostering a comprehensive partnership. In manufacturing sector, Ethiopia and Russia are leveraging their strengths for mutual benefit,” he stated.

The minister also said Russia’s role as a critical trading partner brings technology and expertise to Ethiopia, while Ethiopia offers access to one of Africa’s fastest-growing markets.

Investment stands at the heart of our economic ties, with Russian interest in Ethiopia’s manufacturing sector fostering industrial growth, technology transfer, and knowledge sharing, he noted.

Therefore, “the Ethio-Russia partnership in manufacturing is a beacon of collaborative success and will further this fruitful relationship,” Melaku reiterated.

The delegation was also briefed on investment opportunities in Ethiopia, particularly in manufacturing sector, ENA reported.