Russia and Ethiopia have historical ties based on friendship and mutual trust to corroborate the comparative advantage of the two countries.
Delegation led by representative of the Metal Affairs of Russia his Excellency Semenov Victor discussed with Mr. Melaku Alebel here in Addis Ababa.
During the discussion Mr. Melaku said that, Russia has always been on Ethiopia's side in its struggle for Ethiopia’s sovereignty and territorial integrity. Russia offered its full support to Ethiopia during the terrorist TPLF has made invasion on the northern part of the country. This is highly appreciated by the Ethiopian people and the minister expressed his deepest thanks to Russia.
The Federal Democratic Republic of Ethiopia is designing and implementing integrated national policies and strategies to alleviate poverty, to bring about sustainable development and build democratic culture Mr melaku added.
It is expected that those policies and strategies will bring significant changes in the lives of the Ethiopian people by accelerating the structural transformation from agriculture led economy to industrial led economy and by creating so many conducive environments to attract Foreign Direct Investment as him.
The key strategy of the country is focusing on industries which are labor intensive and having wide market; have broad linkages with the rest of the economy; use agricultural products as input; export-oriented and import substituting Mr Melaku noted.
Representative of the metal Affairs of Russia his Excellency Semenov Victor on his side said that Ethiopia is located in a good strategic position and this condition has created a golden opportunity to attract Foreign Direct Investment.
Russia, is the world’s largest producer of metal. Due to this, Russia’s economy is mainly coming from the iron ore production Semenov Victor added.
Russia has so many designers and engineers that have pivotal role to transform the sector in advance. Besides, the country has copious experiences from the sector and is ready to share this experience by investing metal factory in Ethiopia according to the representative.