Africa-Press – Ethiopia. It is high time to convert the vested interests of Ethiopia and Russia into tangible and practical works to unlock massive opportunities and maximize trade and investment cooperation,” Minister of Innovation and Technology, Belete Molla said.
The midterm Review of Intergovernmental Ethio-Russia Commission on Economic, Scientific, Technical and Trade Cooperation is underway in Addis Ababa.
Speaking at the occasion, the minister said the diplomatic relation between Ethiopia and Russia is built on unshakable rock-foundation.
“It is symbolized as a torch that passed from one generation to another generation,” he stated.
Despite a very cordial and historical relations that the two countries enjoy, the economic cooperation, particularly trade and investment are not to the expected level, he said.
He added that Ethiopia and Russia have tremendous potential for trade and investment cooperation.
Belete also elaborated that we have achieved a good result in developing legal frameworks and agreements to enhance bilateral cooperation between our two countries.
Ethiopia believes that it is imperative for both countries, to design and implement Ethiopia-Russia joint practical industrial projects, the minister said.
In this regard, it is crucial to consider projects in the field of agriculture, specifically building industrial plants of fertilizer, agrochemicals and agricultural machineries in Ethiopia, Belete reiterated.
Russia’s Head of Federal Agency on Mineral Resources, Eugeny Petrov said on his part Ethiopia and Russia have strong relationship in multifaceted spheres.
A number of documents were signed including intergovernmental agreements to ensure international IT security on the establishment and functioning of the joint Russian and Ethiopian Center for Biological Research, he added.
Moreover, he added that there is a an agreement on air communication of service and the roadmap for establishing cooperation and the use of nuclear energy for peaceful purposes.
Noting the energy sector is of paramount importance for Ethiopia and Russia ties, he said “Russian companies are interested in implementing joint projects with their Ethiopian counterparts in this area.”
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