The trade turnover between Russia and the Republic of Ethiopia last year amounted to $225.2 million and more than 4 times exceeded the figures of 2020.

The country of the African continent is now extremely interested in Russian investments and further cooperation. This is confirmed by the imminent resumption of flights of Ethiopian Airlines to Moscow.

Strengthening ties between the states was discussed on June 10, 2022 at a meeting of the Adviser to the President of the Russian Federation Anton Kobyakov with the Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Russian Federation AlemayehuTegena. The dialogue was devoted to the development of bilateral trade and economic relations, as well as Ethiopia's participation in key business events, including the 25th anniversary SPIEF.

"Ethiopia is one of Russia's key partners on the African continent. In recent years, relations between our countries have continued to develop dynamically across the entire spectrum of areas. I am convinced that the SPIEF platform, in particular the Russia-Africa business dialogue, is a good opportunity to attract foreign investors from Russia to Ethiopia," said Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the SPIEF Organizing Committee.

During the meeting, it was also stressed that following the results of the first Russia–Africa Summit, cooperation between the countries has acquired a new dynamic. On the sidelines of the Sochi summit, Russian President Vladimir Putin and Ethiopian Prime Minister Abiy Ahmed met, during which the leaders noted many promising projects designed to significantly expand the volume of trade and economic cooperation in general.

The participants also discussed the possibility of signing a cooperation agreement between the Roscongress Foundation and the Ethiopian Chamber of Commerce and Industry, which will also contribute to strengthening the African agenda in key business events organized by the foundation.