The event, in which some 34 Russian companies and representatives from Mali, Burkina Faso and Ivory Coast participate, was organized by AFROCOM and the Moscow Chamber of Commerce and Industry with the support of the Roscongress Foundation.

Morozov revealed that the objective of the International Business Forum under the theme “Russia-Ethiopia: Time does not wait!” is to attract Russian technology, including electric transport, solar panels and lithium batteries, to further enhance the growth of Ethiopia.

The Russian functionary highlighted Ethiopia’s strategic position in Africa, particularly its recent inclusion in the BRICS, and its rich cultural and historical connections between the two countries, pointing to their shared heritage as a solid foundation for a lasting partnership. “We have opened our continental office and from Ethiopia, we have decided to enter other African countries and African markets. We have observed that Ethiopia is developing dynamically and rapidly creating a favorable investment climate,” he stressed, and cited the establishment of free trade zones and industrial parks in various parts of Ethiopia as favorable for investment.

Russian Ambassador to Ethiopia Evgeny Terekhin commented on ongoing efforts to strengthen bilateral economic ties, noting that the business forum is part of that strategy. He also specified that while the implementation of economic reforms for internal development continues, supported by incentives in taxes, customs, and free trade zones, the event promises new opportunities for Russian companies.

According to the Ethiopia News Agency, Ethiopia’s 120 million inhabitants and a skilled workforce in technical and engineering fields, provide a solid foundation for large-scale infrastructure and development projects, where Russian expertise can be leveraged.

In recent years, the favorable business environment attracted significant foreign investments companies from China, India, and Turkiye.

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