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Roscongress, Afreximbank and REC Sign Cooperation Agreement

As part of the Russia—Africa Economic Conference in Moscow, the Roscongress Foundation, African Export-Import Bank (Afreximbank), and the Russian Export Center (REC) signed an agreement to cooperate on establishing effective communication between expert communities and business circles in the Russian Federation and African countries. The document was signed by Chairman and CEO of the Roscongress Foundation Alexander Stuglev, President and Chairman of the Board of Directors of the African Export-Import Bank Benedict OkeyOramah, and REC Chief Executive Officer Andrey Slepnev.

The agreement will serve as the foundation for joint efforts to develop long-term, mutually beneficial cooperation between Russia and Africa. These efforts will include supporting the search and development of partnerships, as well as mutual support in investment and financing, export and import, and tourism and cultural interactions. The parties also plan to participate in the development of world-class joint communication platforms in the interest of stimulating international cooperation across various sectors.

«We are currently working on a number of other projects with Afreximbank and various African regions. That list includes the financing of shipments of Russian-manufactured ground transport, industrial infrastructure construction and modernization projects in Nigeria and Angola, and mining projects in Zimbabwe and Sierra Leone. Interest has also been expressed in attracting Russian partners to the implementation of projects in the oil industry (pipelines, refining) and agriculture. For our part, together with Roscongress, we are already planning the next event in the Russia—Africa track. In October, Sochi will host the Russia—Africa Summit, which will be co-chaired by Russian President Vladimir Putin and President of the Arab Republic of Egypt and Head of the African Union Abdel Fattah el-Sisi. This is the first event of this level in the history of Russian-African relations, with the heads of all states of the African continent invited, as well as leaders of major subregional associations and organisations,» said REC CEO Andrey Slepnev.

«I am certain that, thanks to the efforts of Afreximbank and the REC, the trust built between the participants of the Russia—Africa Economic Conference will serve as the foundation for new projects. Meanwhile, business networks will continue to develop at the Russia—Africa Economic Summit and Forum in Sochi in October,» added Chairman and CEO of the Roscongress Foundation Alexander Stuglev.

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“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