https://en.sputniknews.africa/20250206/russia-and-ethiopia-to-expand-trade-in-national-currencies-ambassador-says-1070535008.html
Russia and Ethiopia to Expand Trade in National Currencies, Ambassador Says
Russia and Ethiopia to Expand Trade in National Currencies, Ambassador Says
Sputnik Africa
Last October, Ambassador to Russia, Genet Teshome Jirru, emphasized the growing trend of trade between Ethiopia and Russia using local currencies, pointing out... 06.02.2025, Sputnik Africa
2025-02-06T18:08+0100
2025-02-06T18:08+0100
2025-02-07T10:00+0100
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Ethiopian Ambassador to Russia, Genet Teshome Jirru, confirmed in an interview with a Russian media outlet that Ethiopia and Russia are working toward conducting trade in national currencies, emphasizing its advantages in reducing transaction costs and economic unpredictability. While the process is still in its early stages, both countries see strong potential for its expansion.On economic cooperation, the ambassador highlighted growing trade ties, particularly Ethiopia's push to increase direct coffee exports to Russia. He expressed confidence that Ethiopian coffee brands, such as Harar and Sidamo, will soon be widely available in Russian stores.Additionally, Russian car manufacturers, including Lada, Ural, and UAZ, are exploring opportunities to establish assembly plants in Ethiopia, with Lada aiming to introduce electric vehicle production by the end of the year. The luxury Russian brand Aurus may also attract Ethiopia's upper-middle class and government institutions.In the energy sector, Ethiopia and Russia continue to collaborate on nuclear power development, with plans for training specialists before launching full-scale construction. The ambassador also welcomed Russian investments in gold mining, fertilizer production, and other key industries to support Ethiopia’s industrialization.On regional security, Ethiopia cooperates with Russia on counterterrorism, intelligence sharing, and cybersecurity. Ambassador Jirru also acknowledged Russia's broader stabilizing role in Africa.Diplomatic engagements between the two nations remain strong, with the possibility of a meeting between Ethiopian Prime Minister Abiy Ahmed and Russian President Vladimir Putin later this year, potentially in a third country. Ethiopia remains open to high-level visits, including a possible visit by the Russian president.
https://en.sputniknews.africa/20240212/russian-lada-cars-assembly-production-project-in-ethiopia-under-development-ambassador-says-1065046173.html
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Russia and Ethiopia to Expand Trade in National Currencies, Ambassador Says
18:08 06.02.2025 (Updated: 10:00 07.02.2025) Christina Glazkova
Writer / Editor
Last October, Ambassador to Russia, Genet Teshome Jirru, emphasized the growing trend of trade between Ethiopia and Russia using local currencies, pointing out its benefits. He explained that trading in national currencies presents advantages, such as giving buyers a price advantage and reducing foreign exchange rate risk for exporters.
Ethiopian Ambassador to Russia, Genet Teshome Jirru, confirmed in an interview with a Russian media outlet that Ethiopia and Russia are working toward conducting
trade in national
currencies, emphasizing its advantages in reducing transaction costs and economic unpredictability. While the process is still in its early stages, both countries see strong potential for its expansion.
On economic cooperation, the ambassador highlighted growing trade ties, particularly Ethiopia's push to increase direct coffee exports to Russia. He expressed confidence that
Ethiopian coffee brands, such as Harar and Sidamo, will soon be widely available in Russian stores.
Additionally, Russian car manufacturers, including Lada, Ural, and UAZ, are exploring opportunities to establish assembly plants in Ethiopia, with Lada aiming to introduce electric vehicle production by the end of the year. The luxury Russian brand Aurus may also attract Ethiopia's upper-middle class and government institutions.
In the energy sector, Ethiopia and Russia continue to collaborate on nuclear power development, with plans for training specialists before launching full-scale construction. The ambassador also welcomed Russian investments in gold mining, fertilizer production, and other key industries to support Ethiopia’s industrialization.
On regional security, Ethiopia cooperates with Russia on counterterrorism, intelligence sharing, and cybersecurity. Ambassador Jirru also acknowledged Russia's broader stabilizing role in Africa.
Diplomatic engagements between the two nations remain strong, with the possibility of a meeting between Ethiopian Prime Minister Abiy Ahmed and Russian President
Vladimir Putin later this year, potentially in a third country. Ethiopia remains open to high-level visits, including a possible visit by the Russian president.
