Ethiopia and Russia on Friday signed a Memorandum of Understanding (MoU) on Tourism and Culture and Protocol of the Intergovernmental Commission on Economic, Scientific, Technical and Trade Cooperation.
The agreement was signed by the two countries at the end of the 6th meeting of the intergovernmental Ethio-Russia Commission.
The Ethio-Russia Commission also agreed to boost the two countries trade exchange and diversify tradable commodities in both countries markets.
Ethiopia and Russia also come to terms to bolster ties in science and technology, energy and mining sectors as well as commercial air transport services.
At the signing ceremony, Co-Chair of the Commission and Minister of Cabinet Affairs Alemayehu Tegenu said the meeting was crucial for Ethiopia in terms of extending and taking measures in enhancing its relation with Russia.
He noted that the two countries also agreed to diversify areas of cooperation in trade and investment fields and to establish industrial, education and agricultural partnership.
“Ethiopia and Russia also come to terms to bolster ties in science and technology, energy and mining sectors as well as commercial air transport services,” he said.
Co-chair of the Russian side of the commission and Deputy of Natural Resources and Environment Evgeny Kiselev on his part said his country is concerned with strengthening its economic relations Ethiopia.
He reiterated that he had discussion with officials from Ministry of Mines, Petroleum and Natural gas on ways his country’s investors could involve in the energy and mining sectors.
The co-chair further expressed his conviction to the joint commission’s roles in luring more Russian investment to Ethiopia.
The joint technical group agreed to establish follow up mechanism of the protocol and agreed to hold the 7th meeting of the Commission in Moscow in 2018.