Russia–Africa: A Structural Approach to Cooperation in the New Economic Reality

Russia–Africa: A Structural Approach to Cooperation in the New Economic Reality

1 June, 16:45–18:00

African nations are today playing an increasingly active role in international politics and the world economy, becoming directly involved in decision-making on key issues on the global agenda for the UN, and in other multilateral fora. The Soviet Union made a significant contribution to the social and economic development of African countries, building major industrial and infrastructure facilities and assisting in the creation of national education and healthcare systems. In the 1990s, however, Russian–African relations slowed to a near halt. At the present time, trade between the Russian Federation and Africa stands at a maximum of USD 12 billion. But the African continent is a highly promising market for Russian industry, and an important supplier of much-needed raw materials. The key question today is how to set up business partnerships between the Russian Federation and African countries; this would not be possible without substantial support from the Russian Government. What steps must be taken in order to give this bilateral economic partnership fresh impetus?











Broadcast

Key moments

If we fail to start developing our relations with Africa now, we will miss plenty of opportunities tomorrow.
Irina Abramova
Director, Institute for African Studies of the Russian Academy of Sciences; Corresponding Member, Russian Academy of Sciences
Africa is open for business. Through our activity, we ensure that the economic landscape is favourable for all and we have to make sure that opportunities will be available for young people in the future.
Danisa Baloyi
President, Black Business Council
Our goal is to improve living standards in Africa.
Danisa Baloyi
President, Black Business Council
The Government of Burkina Faso is very constructive in terms of investments for international companies, particularly in the mining industry.
Nikolai Zelenski
Chief Executive Officer, Nordgold
[…] Africa has very good people, so we believe that working with African employees and developing them bring benefits both to the workers and to the employer.
Nikolai Zelenski
Chief Executive Officer, Nordgold
Russia’s presence in Africa has expanded over the last few years and, in this context, Gazprombank and VTB are the main organizations to promote the Russian banking business.
Boris Ivanov
First Vice-President, Gazprombank; Managing Director, GPB Global Resources
At the political level, a lot is being said about use of national currencies for settlements within BRICS. We are practitioners, and we suggest paying heed to our partners’ needs, because use of the rouble in such settlements is more beneficial and advisable.
Boris Ivanov
First Vice-President, Gazprombank; Managing Director, GPB Global Resources
Africa is a highly promising market for Russia.
H.E. Phelekezela Mphoko
Vice President of the Republic of Zimbabwe