Ethiopia shows interest in cooperation with EAEU
02.12.2020
Ethiopia shows interest in cooperation with EAEU
Prospects for cooperation
between the Eurasian Economic Union countries and the Federal Democratic
Republic of Ethiopia were discussed by representatives of the business and
expert communities at the first Ethiopian-Eurasian Business Forum held on
December 1 in an online format. The Eurasian Economic Commission was
represented at the Forum by Goar Barseghyan, Director of Integration
Development Department.
"The Russia-Africa Summit held in Sochi in 2019 gave a new impetus to developing mutually beneficial trade and economic cooperation between the African States not only with the Russian Federation, but also with other EAEU Member States: Armenia, Belarus, Kazakhstan and Kyrgyzstan," Goar Barseghyan stated. "Along with that, having formalized cooperation with the African Union, we note the increased interest in deepening dialogue with the EEC from a wide range of African countries, which is largely due to attention paid to various aspects of supranational regulation within the EAEU".
Alemayehu Tegenu Aargau, Ambassador Extraordinary and Plenipotentiary of Ethiopia expressed interest in deepening trade and economic interaction with the Union countries. Tsion Teklu, State Minister for Economic Diplomacy and Diaspora Affairs of the Ministry of Foreign Affairs of Ethiopia, has emphasized the importance of dialogue with the business community as well as told about the Ethiopian reforms aimed at improving the investment and business climate.
According to Irina Abramova, Director of the Africa Institute of the Russian Academy of Sciences, Ethiopia is particularly attractive for investors due to the Chinese New Silk Road running through its territory as well as the growth rate of the Ethiopian economy.
The issues of investments, the use of financial instruments in developing trade and economic interaction, transfer of innovative technologies and joint ventures, and creating a system of preferences in Ethiopia for businesses from the Union countries were discussed within the Business Forum as well.
The event was attended by representatives of official and business circles of Ethiopia as well as expert and business communities of the EAEU States.
"The Russia-Africa Summit held in Sochi in 2019 gave a new impetus to developing mutually beneficial trade and economic cooperation between the African States not only with the Russian Federation, but also with other EAEU Member States: Armenia, Belarus, Kazakhstan and Kyrgyzstan," Goar Barseghyan stated. "Along with that, having formalized cooperation with the African Union, we note the increased interest in deepening dialogue with the EEC from a wide range of African countries, which is largely due to attention paid to various aspects of supranational regulation within the EAEU".
Alemayehu Tegenu Aargau, Ambassador Extraordinary and Plenipotentiary of Ethiopia expressed interest in deepening trade and economic interaction with the Union countries. Tsion Teklu, State Minister for Economic Diplomacy and Diaspora Affairs of the Ministry of Foreign Affairs of Ethiopia, has emphasized the importance of dialogue with the business community as well as told about the Ethiopian reforms aimed at improving the investment and business climate.
According to Irina Abramova, Director of the Africa Institute of the Russian Academy of Sciences, Ethiopia is particularly attractive for investors due to the Chinese New Silk Road running through its territory as well as the growth rate of the Ethiopian economy.
The issues of investments, the use of financial instruments in developing trade and economic interaction, transfer of innovative technologies and joint ventures, and creating a system of preferences in Ethiopia for businesses from the Union countries were discussed within the Business Forum as well.
The event was attended by representatives of official and business circles of Ethiopia as well as expert and business communities of the EAEU States.
For reference
Over the past decade, the EAEU trade turnover with African States has risen by almost 3 times, exceeding 20 bln dollars. Along with that, there is a serious reserve for increasing trade, economic and investment interaction.