AvtoVAZ Export Director Ilya Savinov signed an agreement with the head of Ethio Engineering Group, Suleiman Dedefo, on the assembly of Lada cars in Ethiopia. The document was signed at a meeting in Addis Ababa.
During the ceremony, Dedefo stated that Russian cars would be assembled from supplied vehicle kits. According to him, the automotive industry is not the only one in Ethiopia that may be of interest to international business. The head of Ethio Engineering Group drew attention to opportunities for investment in the mining industry, agricultural processing and the technology sector.
Dedefo, who is also a representative of the Ethiopian Foreign Ministry, promised that the authorities of the African country would provide the necessary support for large projects. Savinov, in turn, said that many Russian companies are interested in investing in Ethiopia.
Earlier www1.ru wrote that AvtoVAZ wants to develop the Iranian market. The concern planned to sell all Lada models. However, the Russian company may face logistical problems and high import duties, so it will be difficult for it to gain a foothold in Iran.