In First Ten Months of 2024, Trade Volume Between Russia & Ethiopia Has Grown by Almost 40%
In First Ten Months of 2024, Trade Volume Between Russia & Ethiopia Has Grown by Almost 40%
"Trade and economic cooperation between Russia and Ethiopia is becoming increasingly important both bilaterally and within the BRICS framework," Irina Zasedatel, VP of the Association of Exporters and Importers, told Sputnik.
Agriculture, comprising a significant portion of trade, is a key sector, Zasedatel said, highlighting Russia's expertise in drought management and wheat breeding as beneficial for Ethiopia's food security.
Sectors of mutual interest, in addition to agriculture, include:
🟠IT and digital technologies,
🟠chemistry,
🟠pharmaceuticals,
🟠infrastructure construction,
🟠transport,
🟠electric power,
🟠peaceful nuclear technologies.
Russia and Ethiopia need to resolve issues of logistics, certification and business communications in order to further develop trade and economic relations, Zasedatel stated.
Once these obstacles are overcome, Russia will gain a reliable partner in East Africa, and Ethiopia will gain access to technologies and markets, which will benefit both sides and strengthen the influence of BRICS as an alternative bloc to Western hegemony, she concluded.
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