In preparation for the RussiaAfrica Economic
Forum, to be held on the sidelines of the RussiaAfrica
Summit, experts from the analytical division of the Roscongress Foundation have
prepared a report entitled RussiaAfrica: A
Long-Term Trade and Economic Partnership. The report has been published in the Analytics section of the ROSCONGRESS.ORG Information and Analytical System
The report covers Africas position in the global economy, the current
state of Russian-African trade relations, and major trends in their
development.
Russia has shown increasing interest in the African continent. In his
address to Forum participants, Russian President Vladimir Putin drew attention
to the special importance of progress in collaboration between the countries
and positive experience in developing joint projects.
«Trade, investment, and industrial integration between Russia and Africa
are growing swiftly. This is evidenced by an upward trend in
economic indicators and the great interest shown in the RussiaAfrica Economic
Forum, which will bring together more than 3,000 representatives of the African
business community, Russian company heads, and leading international experts. Russia thinks the outlook for collaboration with
African partners is great and is ready to share new solutions and technologies
with them for the development of industry and human capital», Adviser to the
President of the Russian Federation Anton Kobyakov said.
According
to the FCS, Russian and African trade turnover in 2018 increased by 17% over
2017 and amounted to USD 20.4 billion. Russia exported goods worth USD 17.5
billion, which is 18.1% higher than the previous of the year.
In
the process of strengthening economic ties, Russia and other partners must take
into account the whole range of new trends in African development.
Although most African countries continue to depend on the extraction and
export of raw materials, Africas leading development institutions are seeking
to increase manufacturings contribution to GDP. An influx of foreign direct
investment into the region will be crucial for accelerating industrialization
and sustainable development. For this reason, many African countries are currently
carrying out active reforms and creating a favourable regulatory environment
for doing business.
Business opportunities in Africa will be front and centre at the
upcoming Economic Forum. The event will include a plenary session, a series of
round tables and panel discussions, and the organization of a major venue for
business meetings.
More information on the Forum programme is available on the official event website and the event page in the ROSCONGRESS.ORG Information and Analytical System.
The RussiaAfrica Summit and Economic Forum will take place on 2324 October in Sochi at the Sirius Park of Science and Art. The events are being organized by the Roscongress Foundation, and the co-organizers of the RussiaAfrica Economic Forum are Russian Export Center and Afreximbank.
For a more detailed version
of the RussiaAfrica Economic Forum programme, please visit: https://summitafrica.ru/en/programm/