Colleagues,
I am delighted to welcome the members of the Business Council under the Minister of Foreign Affairs and invited participants. Today’s discussion will focus on the expansion of trade and economic cooperation with Africa. As you know, the second Russia-Africa Summit is scheduled for the end of July.
We are preparing for the summit in a situation where profound changes are unfolding in the world; this requires adjustments of Russia's foreign policy as well as foreign economic priorities. We are already doing this, primarily in the traditionally friendly geographical areas, with the African continent historically being one of them.
Its role as one of the most important pillars of the emerging multipolar system continues to grow. Over the past decade, Africa's nominal GDP has grown by 50 percent, and the share of transnational corporations in it is steadily declining. Many African nations have made significant strides in strengthening their economies. The African Continental Free Trade Area project is of particular importance here. In the near future, with our active assistance, the African Union’s inclusion in the Group of Twenty will be completed. This will allow the continent to fully participate in shaping the international agenda and in global governance mechanisms.
Economic and financial independence remains a key factor in Africa's socioeconomic development and food security. Russia has a principled approach here, advocating the need to reform the global financial architecture and increase the role of new centres of economic growth in it. We are in favour of redistributing global financial resources in their favour and pay special attention to the needs of African states.
In terms of practical cooperation, Africa is one of the fastest-growing export markets for our manufacturers; it is one of the promising destinations for Russian investment. African countries are interested in working with us to achieve the goals set out in the African Union's strategy, Agenda 2063.
A significant part of the events planned for the end of July 2023 as part of the second Russia-Africa Summit will have to do with the issues I mentioned. We hope that the summit will lend a powerful impetus to the comprehensive development of Russian-African relations. We believe that our Business Council’s contribution to the preparations for this event will also be of value. Now we will move on to a substantive exchange of views on ways to make this contribution as effective as possible.
#RussiaAfrica
I am delighted to welcome the members of the Business Council under the Minister of Foreign Affairs and invited participants. Today’s discussion will focus on the expansion of trade and economic cooperation with Africa. As you know, the second Russia-Africa Summit is scheduled for the end of July.
We are preparing for the summit in a situation where profound changes are unfolding in the world; this requires adjustments of Russia's foreign policy as well as foreign economic priorities. We are already doing this, primarily in the traditionally friendly geographical areas, with the African continent historically being one of them.
Its role as one of the most important pillars of the emerging multipolar system continues to grow. Over the past decade, Africa's nominal GDP has grown by 50 percent, and the share of transnational corporations in it is steadily declining. Many African nations have made significant strides in strengthening their economies. The African Continental Free Trade Area project is of particular importance here. In the near future, with our active assistance, the African Union’s inclusion in the Group of Twenty will be completed. This will allow the continent to fully participate in shaping the international agenda and in global governance mechanisms.
Economic and financial independence remains a key factor in Africa's socioeconomic development and food security. Russia has a principled approach here, advocating the need to reform the global financial architecture and increase the role of new centres of economic growth in it. We are in favour of redistributing global financial resources in their favour and pay special attention to the needs of African states.
In terms of practical cooperation, Africa is one of the fastest-growing export markets for our manufacturers; it is one of the promising destinations for Russian investment. African countries are interested in working with us to achieve the goals set out in the African Union's strategy, Agenda 2063.
A significant part of the events planned for the end of July 2023 as part of the second Russia-Africa Summit will have to do with the issues I mentioned. We hope that the summit will lend a powerful impetus to the comprehensive development of Russian-African relations. We believe that our Business Council’s contribution to the preparations for this event will also be of value. Now we will move on to a substantive exchange of views on ways to make this contribution as effective as possible.
#RussiaAfrica