Addis Ababa February 28/2013 The fourth session of the Intergovernmental Ethiopian-Russian Commission (IGC) was closed here on Thursday after the two countries signed agreement to work together in the economic, scientific, technical and trade sectors, among others.
Water and Energy Minister and Co-Chair of the 4th IGC session, Alemayehu Tegenu said on the occasion that the two countries have witnessed dynamism and progress in trade, scientific and economic cooperation.
Alemayehu said during the period from 2006-October 2012 export has increased to 11.5 million USD from two million USD.
During the same period import from the Russian side has increased to 124 million USD from 71.7 million USD, which shows a trade progress for both countries.
Alemayehu also stressed the need to take further measures to create a beneficial trade balance between the two nations.
He said one of such measures include, among others, encouraging Russian investors to invest in Ethiopia.
Head of the Federal Agency for the Mineral Resources of the Russian Federation, Alexander Popov on his part said the cooperation of the two sisterly countries is growing from time to time despite the complicated world trade.
Popov, who is also Co-Chair of the 4th IGC session, said efforts will be exerted to further strengthen bilateral relations between the two countries in the economic, science, technical and trade sectors.
The Fifth intergovernmental Ethiopia-Russia commission meeting will be held in Russia.