At a Meeting in Moscow, the Ethiopian Ambassador Affirmed Interest in Enhancing Financial Cooperation with Russia
Representatives of FBA EAC convened a working meeting with the Ambassador of Ethiopia to Russia, Genet Teshome Girrou. During the session, the discussion centered on the advancement of interbank relationships and the streamlining of international payment systems.
The meeting was held on February 6 in Moscow. The participants included Alexey Kazartsev, the Chairman of the International Banking Committee of the Association, and Alexander Biryukov, who represents the interests of FBA EAC in West Africa and Mauritania. Vladimir Dubinkin, a member of the Board of Directors of the Russian-African Commonwealth Foundation, was also present at the meeting.
The primary focus of the discussion revolved around the potential for enhancing cooperation between Russian and Ethiopian financial institutions, as well as the intricacies of international payment systems. Subsequent to the meeting, the Ambassador of Ethiopia conveyed an interest in delivering a speech at the Moscow International Financial and Economic Forum (MIFEF) scheduled for November, subject to his professional commitments.
During the discussion, the Ethiopian Ambassador provided the Russian representatives with details regarding the nation's intentions to host a significant investment forum titled "Invest in Ethiopia High-Level Business Forum — HLBF" in March 2026. According to the diplomat, this event, organized by the Ethiopian Investment Commission (EIC), will serve as a platform for the unveiling of opportunities in key economic sectors, such as manufacturing, agribusiness, energy, and information and communication technologies (ICT). The forum is projected to attract hundreds of international investors.
Ethiopia is one of Russia's primary economic partners in East Africa, exhibiting consistent growth in trade. Russian exports predominantly comprise wheat, mineral fertilizers, and machine-building products. Conversely, imports from Ethiopia are primarily composed of coffee, fruits, and spices, accounting for nearly 90% of total imports. In light of global transformations in the financial system, experts emphasize the development of direct interbank relationships and the exploration of reliable settlement mechanisms as crucial prerequisites for fully realizing the potential of bilateral trade and investment.