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Afreximbank to act as Organizational Partner of the Second Russia–Africa Summit and the Russia–Africa Economic and Humanitarian Forum

The Afreximbank official delegation, headed by its President Benedict Oramah, has arrived in St. Petersburg for SPIEF 2023. Afreximbank is a regular partner of the Forum and the Bank’s exhibition stand in the Passage has already become a traditional point of attraction for all participants interested in growing cooperation with the African continent.

Advisor to the President of the Russian Federation Anton Kobyakov met with Benedict Oramah to discuss preparations for the Second Russia–Africa Summit and the Russia–Africa Economic and Humanitarian Forum.

Kobyakov noted that “At present, with active support from Afreximbank, preparations are entering the decisive phase for the Second Russia–Africa Summit on 26–29 July”. “A rich business programme is being drawn up for the participants and a large-scale exhibition is to be organized”, the Advisor to the President announced, stressing that the Bank’s exposition would provide a unique opportunity to present oneself and establish business relations with African and Russian businesses.

In turn, the Afreximbank President stated that the Bank would act as an Organizational Partner of the Forum. This status includes promoting the event in Africa, attracting the target audience, providing the necessary assistance for business programme speakers and building the pavilion.

Oramah focused separately on the actively developing trade between African countries and Russia. According to him, just a few years ago, the trade volume amounted to 8.9 bln USD, compared to the current 12 bln USD. “Russia plays the key role in grain supplies, sometimes as much as 30–40%. The same applies to supplies of fertilizers: Russia is the main supplier of these”, Oramah said.

In addition, the President of Afreximbank invited the Russian side to take part in the Intra-African Trade Fair on 9–15 November this year in Cairo.

“We highly value the results of our joint work at the summit. I am sure the achieved results are creating a good foundation for further deepening the Russia-Africa partnership in the interests of our nations’ prosperity and wellbeing.”

President of the Russian Federation
Vladimir Putin

The Russia–Africa Summit, which is taking place in Sochi on 23–24 October 2019, encapsulates the historically friendly relations between the African continent and the Russian Federation. This Summit carries great significance as it is the first of its kind to emerge during a period of major global and international transformations. In response to the aspirations of the people it is representing, the Summit intends to build a comprehensive framework for expanding Russian–African relations into broader horizons of joint cooperation across different fields.

The African nations and Russia share a common understanding of international relations, based on the principles of respect for the rule of international law, equality, non-interference in the internal affairs of states, and the peaceful resolution of disputes. Both sides affirm their commitment to support multilateral actions to oppose new international threats, be they terrorism and extremism in all their forms, or declining growth rates. The two sides share a firm conviction regarding the importance of developing trade flows and supporting mutual investment in such a way as to ensure security, peace and development for the African and Russian people.

African countries have huge potential and opportunities that will allow them, once efforts to streamline their economies have been achieved, to emerge as real global players. In recent years, the nations of this continent have achieved major successes spanning the political, economic, social and administrative spheres. Africa has flourished in terms of growth over the past decade, reaching a continent-wide growth rate of 3.55% in 2018.

The African Union Summit, which was held in Niger in July 2019, continued the efforts of the African countries and saw the African Continental Free Trade Agreement come into force, along with its operational instruments. The agreement is one of the key objectives of Agenda 2063, an African development strategy that has been created to address the African people’s desire for prosperity and decent living standards.

These successes are opening up wide-ranging prospects for cooperation between African countries and the Russian Federation, and confirm the determination of African governments and their people to cooperate with multiple partners in order to establish mutually beneficial relations.

With this in mind, we express our hopes that the Russia–Africa Summit will help in the establishment of constructive strategic relations, based on partnership between two sides across various fields, and in the service of fulfilling the hopes and aspirations of the African people and their friends in Russia.

President of the Arab Republic of Egypt
Abdelfattah ALSISI