Russia-Africa forum lays ground to strengthen ties

Wednesday, October 9, 2019

Russian President Vladimir Putin says the upcoming Russia-Africa Economic Forum provides fertile ground for participants to strengthen economic ties across nations.

Putin, who will play host to participating African countries, made the statement ahead of the first Russia–Africa Economic Forum which will be held in Sochi on 23–24 October 2019, on the sidelines of the Russia–Africa Summit.

President Putin specifically highlighted the importance of developing cooperation between countries and the positive experience gained from developing joint projects.

“Russian-African relations, which have traditionally been friendly and partner-like, have intensified significantly in recent years both at the bilateral level and in various multilateral formats. We have not only managed to preserve the experience gained from fruitful cooperation in the past, but have also achieved new major successes,” he said.

Positive trends have been seen in trade turnover numbers and in the investment flows, and joint projects are being developed in the extractive industry, agriculture, healthcare, and education.

Putin said Russian companies stand ready to offer their African partners their scientific and technological developments and experience in modernizing energy, transport, and communication infrastructure.

He also expressed confidence that the Forum will become a unique platform for the discussion and adoption of constructive decisions that aim to enhance cooperation.

“I hope that new areas and forms of cooperation will be outlined during the Forum and promising joint initiatives will be put forward that will help take Russian-African collaboration to a whole new level and develop our economies and the prosperity of our people,” said Putin.

The business programme at the Forum will focus on key areas of cooperation between Russia and African countries and is centred around three thematic pillars: ‘Forging Economic Ties’, ‘Creating Joint Projects’, and ‘Collaborating in the Humanitarian and Social Sector’.

Participants will discuss issues such as expanding funding for joint Russian-African transactions, prospects for the development of integration processes and cooperation between the Eurasian Economic Community and Africa, digital transformation and cybersecurity, and the economic sovereignty of African countries.

Businesses and governments will use the conclusions reached during the Forum’s discussions to make the necessary decisions aimed at stimulating economic cooperation. –