Wed, 27 Sep 2023

Russian cars may be assembled in Africa envoy
29 May 2023, 22:13 GMT+10

Ethiopia is keen on deepening economic cooperation with Moscow, officials have said

Russian automakers are considering setting up an assembly plant in Ethiopia, according to Moscow's Ambassador to Addis Ababa, Evgeny Terekhin.

He told the Izvestia business newspaper this week that such a possibility is currently being discussed.

The envoy highlighted that trade between Russia and African nations has been growing, with combined turnover reaching $18 billion in 2022.

African countries sell fruits, vegetables, tea, coffee, flowers, and precious woods to Russia, Terekhin explained.

"The lion's share of Russian imports from Ethiopia is coffee, while more than half of Russia's exports to the country in 2022 were wheat. In addition, Russia exports oil products and paper products to Ethiopia," the diplomat noted.

Last week, Russian State Duma Chairman Vyacheslav Volodin held a meeting with Ethiopian House of Federation Speaker Agegnehu Teshager, where the two sides discussed economic cooperation.

"Ethiopia is an important Russian partner in Africa. We have always conducted such dialogue with Ethiopia, and have maintained relations for more than 125 years," Volodin said.

The Duma chairman added that Russian companies are interested in long-term cooperation with Ethiopian partners in areas such as mining, energy, transport, construction, and agriculture.

According to Teshager, relations with Russia are strong but should be developed even further, especially in the fields of trade and investment.

"We want Russia to be our main trade destination," the official stressed.

For more stories on economy & finance visit RT's business section


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