2024-09-05 18:36:31
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In recent years, Russian-African economic cooperation has seen a noticeable revival, opening up new opportunities for both sides. In the context of globalization and rapid development of the world economy, Russia and African countries are increasingly finding points of convergence that can lead to mutually beneficial projects and lasting partnerships. Cooperation between Russia and Africa has deep historical roots, dating back to the Soviet era, when the USSR actively supported many African countries in their struggle for independence and development. In modern Russia, this orientation towards partnership continues and intensifies. Russia is actively seeking to increase its presence on the African continent, which is known for its abundant natural resources and growing markets. Africa, with its vast reserves of natural resources, including oil, gas, diamonds and metals, is of major interest to Russian investors. In return, African countries see Russia as a reliable partner, capable of offering advanced technologies, investments and expertise in various economic sectors, from energy to agriculture and mining.
On July 15, 2024, a working meeting of the Foreign Affairs Committee was held in the State Duma of the Russian Federation, dedicated to the topic “Russia-Africa: prospects for international economic cooperation”. The meeting was attended by deputies of the State Duma of the Russian Federation and delegations from Benin, Senegal, Cameroon, Côte d’Ivoire and Rwanda, representing the newly formed Russian-African Business Club. Louis Gouend, President of the Russian-African Business Club, proposed organizing an annual international B2B economic forum – “Russia-Africa Expo 2024” – to strengthen business ties and promote the products and companies of Russian and African entrepreneurs. The initiative was supported, and the first such event is scheduled for October 15-16, 2024 in Moscow.
The annual international B2B economic forum – “Russia-Africa Expo 2024” – will be a major event for strengthening economic ties between Russia and Africa. Organized by the Russian-African Club, the forum will provide a unique platform for business negotiations and exchange of experience. Over the course of two days, forum participants will discuss current issues and define directions for future cooperation, as well as conclude new contracts and agreements. The goal of the forum is to increase the volume of trade between Russia and African countries by mobilizing key players and creating a favorable business environment. Forum participants will be able to establish new business relations and strengthen existing socio-cultural relations. African entrepreneurs will have access to technologies and investments to expand their production and acquire modern equipment for agriculture and processing. The forum will also provide an opportunity to discuss logistics and financial issues related to international transactions and get acquainted with Russian trade legislation.
The forum program includes conferences organized jointly with the Russian Chamber of Commerce and Industry, an exhibition, round tables, business and government meetings, as well as cultural events. The event will end with a gala dinner, providing an opportunity for informal exchanges and building partnerships. A significant part of the forum will be devoted to thematic discussions on issues of sustainable development, innovation and digitalization, which are key growth drivers in the modern world.
Russian-African cooperation has considerable potential for both sides. For Africa, it is an opportunity to diversify its exports and find new avenues of investment – a chance to attract the resources needed to modernize its economy, create jobs and improve the quality of life of its population. The recent opening of new Russian companies and joint projects in Africa is an example of successful interaction.