Ethiopia invites Russian firms to produce for Africa
By the AFREEQUE newsroom, based on Fanamc
Ethiopian Prime Minister Abiy Ahmed has invited Russian companies to establish joint ventures in Ethiopia’s special economic zones, particularly in pharmaceuticals and machinery. The partnerships would target local production and access to the African market through the African Continental Free Trade Area, according to Fanamc.
Ethiopian Prime Minister Abiy Ahmed has invited Russian companies to establish joint ventures in Ethiopia’s special economic zones, particularly in the pharmaceutical and machinery sectors, to produce for African markets. He made the appeal on Thursday in Moscow during the plenary session of the third Russia-Africa summit, highlighting the African Continental Free Trade Area as access to a single African market.
Abiy Ahmed also called for more effective payment channels between Ethiopia and Russia to simplify and reduce the cost of bilateral trade. He proposed that Russian cooperation should also cover agricultural machinery and the processing of agricultural products, in order to increase Ethiopia’s production and its capacity to feed its population.
The joint venture project aims to move beyond simple trade between the two countries by combining investment, local production and access to markets across the continent, the prime minister said. Abiy Ahmed had previously proposed Addis Ababa for a Russia-Africa summit.
