Addis Ababa, July 21/2020(ENA) Russia and Ethiopia have important untapped potential for creating commerce and financial cooperation in a variety of areas, in accordance with Ambassador Evgeny Terekhin. 

In an unique interview with ENA, Ambassador Terekhin mentioned the international locations have untapped potential for creating commerce and financial cooperation in a variety of areas.

“The potential for bilateral trade and economic relations is very high, but both Russian and Ethiopian businessmen are not yet significantly aware of each others’ capabilities,” he identified.

In response to him, the dialogue on problems with mutual curiosity on worldwide agendas should be supported by interplay within the financial, business and funding spheres.

On this regard, Ambassador Terekhin identified that the chambers of commerce and trade associations of the 2 international locations are notably essential for the event of extra dynamic relations.

Noting that vitality is among the many most promising areas of cooperation, he cited the nuclear vitality settlement signed between the international locations final yr.

“Negotiations are underway to construct a nuclear science and technology center with a research reactor in Ethiopia, and the first nuclear power plant for the country,” the ambassador revealed.

He recalled that Russia had constructed Melka Wakana and developed Halele Worabesa hydropower plant and emphasised:“There is great potential in such areas as hydrocarbon and mineral extraction, infrastructure development, and railway construction.”

Ambassador Terekhin additional famous that establishing Russian industrial parks for pharmaceutics, automobile meeting and textile industries could be essentially the most potential spheres for Russian firms in Ethiopia.

Russia cherishes the political relations with Ethiopia which is predicated on mutual respect, belief and friendship, in accordance with the ambassador.

Prime Minister Abiy Ahmed’s participation within the Russian-African Summit in Sochi and his phone dialog with the Russian management has given new impetus to selling the historic pleasant Ethio-Russian relations, he mentioned.

The long-standing pleasant relationship ought to additional be heightened “particularly at a time when collective action by all states, including Ethiopia and Russia, to counter the spread of  Coronavirus infection is more necessary than ever.”

Diplomatic relations between Ethiopia and Russia date again to 1898.

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