Trade between Russia and Africa has potential for significant growth -Kagame

By IGIHE
On 25 October 2019 at 03:42

President Paul Kagame has said that trade between Russia and Africa has the potential for significant growth in the years ahead.

Kagame was delivering remarks in Sochi yesterday at the second day of Russia Africa Summit attended by other world leaders. The two-day summit brought together more than 3000 delegates from across Africa and Russia to discuss politics and business.

He said that the ties between Russia and Africa are long-standing as mentioned by many countries including Rwanda.

The President highlighted that the moment was particularly favorable because ‘Africa is at a turning point in many ways including in terms of both trade and technology’.
“The African Continental Free Trade Area is soon to be the world’s largest, creating new opportunities for African companies and for our investors and partners from around the world, Russia among them,” he said.

Kagame emphasized that there re greater cooperation opportunities between Africa and Russia in fields such as information technology, scientific research, and new sources of energy where Russia enjoys a reputation for excellence.

He, therefore, observed that the current situation is promising for growth of trade between Africa and Russia.

“Trade between Russia and Africa has the potential for significant growth in the years ahead. To speed up this trend, we expect to see more frequent contact between our respective business communities and other institutions going forward,” said Kagame.

“For our part, it is essential to maintain a conducive and predictable overall governance environment, with equal rights and opportunities for all players. Our focus should be on deriving practical results from our cooperation efforts, with clear mutual benefit. Doing so, would indeed represent an important contribution to building an equitable international order and a brighter future for all our peoples,” he added.

The two-day Russia—Africa Economic Forum held on 23–24 October 2019 attracted many politicians and business leaders at the Olympic Park Main Media Centre in Sochi.

The official event programme featured a plenary session, and a range of high-level roundtables and panel discussions, as well as a multitude of opportunities for business contacts.

The Forum is an important and much-anticipated milestone in laying foundations for the promotion and enhancement of trade and economic relations among the economies across the African continent and enabling the diversification and deepening of economic collaboration between Russia and Africa.

As he opened the Summit, the Russian president welcomed thousands of African leaders to discuss politics and business "worth billions of dollars" and promised to refrain from ’political or other’ influence.

The two-day event will see more than 3,000 delegates from across Russia and Africa to discuss an array of topics from nuclear energy to mineral extraction.

All 54 African states sent representatives to the meeting, including 43 heads of state or government.

Africa Economic Forum held on 23–24 October 2019 attracted many politicians and business leaders at the Olympic Park Main Media Centre in Sochi.
All 54 African states sent representatives to the meeting, including 43 heads of state or government.

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