Ethiopia’s huge market attracts Russian companies, says Ambassador Evgeny Terekhin
Addis Ababa, January 31, 2025 (FMC) – Ethiopia’s huge market is attracting Russian companies to the country, says Ambassador Evgeny Terekhin.
Russian Ambassador in Addis Ababa Evgeny Terekhin, in an exclusive interview with Izvestia, said that Russian companies are developing promising projects in Ethiopia, particularly in the automotive, electrical engineering, and chemical industries.
Ambassador Evgeny Terekhin noted that cooperation between the two countries is increasing in all areas. He mentioned that Russian companies are expected to participate in investment projects in Ethiopia, and that robotics specialists will visit the country to showcase their inventions. The ambassador also mentioned the possibility of expanding air traffic between Russia and Ethiopia.
The Ambassador highlighted the centuries-long history of Russian-Ethiopian relations, citing mutual respect, a desire to take into account each other’s interests, and traditions of friendship and partnership. He noted that Ethiopia’s entry into BRICS has been successful, with the country contributing to the collective strength of the association and gaining a new perspective on the African continent.
Evgeny also emphasized the importance of Ethiopia’s economic growth, citing its GDP growth of 8.1% in the past financial year and its position as a dynamically developing, fifth-largest economy in Africa. He noted that Ethiopia is a promising market for Russian goods and services, with a population of over 120 million people.
The ambassador also mentioned that Russia is interested in investing in Ethiopian industrial parks and the free trade zone in Dire Dawa. He emphasized that the business climate in Ethiopia is improving, making it an attractive destination for Russian companies.
The huge Ethiopian market is attracting Russian companies, which are working on various economic projects, including automobile manufacturing, chemical, electrical, and food industries.