The first-ever Russia-Africa summit will be held from Oct. 23-24 in Sochi, Russia, marking the culminating point of the return of Russia to Africa, with more than 50 African leaders and 3,000 delegates invited. This convening is only another illustration of the recent increase in economic, security, and political-diplomatic engagements to foster Russia-Africa relations.
Over the last decade there has been a proliferation of Russia-Africa bilateral committees, economic forums, and conferences for economic coordination. In 2011, the Russian Agency on Insurance of Export Credit Investments (EXIAR) was created in order to facilitate Russian companies’ activities and the protection of investments.
More recently, the three-day June 2018 Saint Petersburg Economic Forum reunited Russia and Africa and gave African countries the chance to meet with Russia’s foreign minister Sergey Lavrov. The Russia-SADC business forum that was held in February in Moscow is another example of the strengthening of ties between Russia and Africa in a broad range of economic fields.
The upcoming Russia-Africa Economic Forum, which will be chaired by Russian president Vladimir Putin and Egyptian president Abdel Fattah el-Sisi, will gather Russian and African officials along with business leaders to discuss and sign trade, economic, and investment agreements. Read more…