Russia-Ethiopia Trade Soars by 40% in 2024, Agriculture Leads the Way

Ethiopia and Russia have taken a significant step in strengthening their economic, scientific, and technical cooperation, with top officials convening in Addis Ababa for the inaugural meeting of the Russia-Ethiopia Intergovernmental Commission. The discussions, led by Russian Minister of Economic Development Maksim Reshetnikov and Ethiopian Minister of Innovation and Technology Belete Molla, focused on expanding bilateral trade and exploring new avenues for collaboration.

Highlighting Ethiopia’s strategic importance as a key African partner, Reshetnikov revealed that trade between the two nations surged by nearly 40% in the first ten months of 2024 compared to the same period the previous year. He underscored the need to identify new market opportunities to sustain this momentum.

Agriculture remains the dominant sector in bilateral trade, accounting for 89% of total exchanges. Russia sees potential in supporting Ethiopia’s agricultural development through expertise in drought mitigation, land reclamation, and the introduction of drought-resistant wheat varieties. Additionally, increasing exports of Russian agricultural machinery, food products, and liquid fertilizers is expected to bolster Ethiopia’s resilience against climate-related challenges.

A landmark achievement of the meeting was the signing of a roadmap for cooperation on the peaceful use of nuclear technology. The agreement outlines key steps for assessing Ethiopia’s nuclear energy potential, developing infrastructure, and training specialists in the sector.

As part of ongoing engagement, Russia has invited Ethiopian representatives to the next session of the commission in Moscow in June 2025, coinciding with an international tourism forum scheduled for June 10-15.