The Afreximbank
Strategy for Export Trading Companies was launched in Moscow during the open
Russia—Africa Economic Conference, part of the Afreximbank Annual Meetings with
the support of the Roscongress Foundation and Russian Export Center. The
panellists included Managing Director of Afreximbank’s Intra-African Trade Initiative
Kanayo Awani and Deputy Governor of the Central Bank of Egypt Gamal Mohamed
Abdel-Aziz Negm. One of the key focal points of the discussion at the event was
the strengthening of trade and economic relations between Russia and Africa.
Experts predict
that the trade turnover between Russia and Africa will double in the next three
years. Last year, their total export volume grew by 18% and reached USD
17.5 billion. At the same time, the volume of non-energy non-commodity exports
grew to USD 14.3 billion. Egypt, the Republic of South Africa, Zambia, Angola,
Algeria, Nigeria, and Kenya are key African consumers of Russian non-commodity
exports.
«The African
continent currently has enormous potential as a sales market. Many African
countries are enacting economic reforms, demand is growing for high-quality,
competitive products. Russian businesses are interested in this niche, and our
goods are already competitive in terms of price and quality. We plan to
increase export volumes in the next few years,» said Andrey Slepnev, Chief
Executive Officer of the Russian Export Center (REC).
A Russian
Industrial Zone is currently being built in Egypt’s Suez Canal Economic Zone.
This is the first such infrastructure megaproject launched by the Russian
Export Center (part of VEB.RU). «Residents of the industrial zone will have
several key advantages: proximity to vital transport canals, a number of trade
agreements with Egypt, maximally simplified business regulations, and a single
point of contact for solving any problems or addressing any issues. In the next
five years, this 525-hectare area will be transformed into a comprehensive
industrial park for Russian companies. In the future, the Russian Industrial
Zone will serve as an outpost for promoting Russian goods and services in
Africa,» said Andrey Slepnev, Chief Executive Officer of the Russian Export
Center.
