The Russia-Ethiopia Business Forum, themed “RUSSIA-ETHIOPIA: TIME DOESN’T WAIT!” has launched in Addis Ababa, creating a platform to drive economic cooperation between the two countries.

With Ethiopia’s recent induction into BRICS, the event takes on greater significance, exploring how this group could boost regional influence and open doors for strategic partnerships across key sectors, as reported by ENA, a partner of TV BRICS.

Held in the Ethiopian capital, the forum attracted over 30 Russian companies across sectors like transport, construction, IT and cyber-security, agro-industry, and tourism.

Igor Morozov, Chairman of the Coordination Committee on Economic Cooperation with African Countries, inaugurated the event, describing Ethiopia as a dynamic market ready for increased Russian investment and technology infusion, including electric transport, solar panels, and lithium batteries.

Morozov emphasised the importance of Ethiopia’s BRICS membership, pointing out that this will deepen trade networks between Russia and Africa.

“The acceptance of Ethiopia into the BRICS will facilitate payment systems and broaden the scope of our economic engagement,” he noted.

Additionally, he emphasised that the recent creation of Free Trade Zones and Industrial Parks across Ethiopia presents lucrative opportunities for Russian companies seeking to establish regional footholds.

The Russian Ambassador to Ethiopia, Evgeny Terekhin, echoed the forum’s intent to strengthen bilateral ties through trade and investment. The ambassador highlighted that these reforms have led to Ethiopia becoming a hub for global investment, attracting major players from countries like China and India.

As the forum unfolds, it underscores a transformative period for Russia-Ethiopia relations within the broader BRICS framework, as reported by ENA.

African Times published this article in partnership with International Media Network TV BRICS