MOSCOW (Pakistan Point News / Sputnik - 16th September, 2020) The Sochi forum took Russian-African cooperation to a new level, putting the trade on the path of sustainable growth and bringing several new projects to the table, the CEO of the Roscongress Foundation, the event's organizer, told Sputnik.
The Russia-Africa summit and economic forum, cochaired by Russia and Egypt, ran in the Russian resort city of Sochi from October 23-24. Over 40 African nations were represented by heads of state or government, while 11 others sent their vice presidents, foreign ministers or ambassadors.
"During the Russia-Africa summit and economic forum 92 agreements, contracts and MoUs were signed for the total value of 1.004 trillion rubles [$13.4 billion]. The majority of the deals signed relate to exports and external economic relations, international cooperation, high-tech, logistics and transport, mining and exploration, banking and investment activities. Given the fact that over the past five years Russian-African trade has doubled, this figure has all the prerequisites for further growth," Alexander Stuglev, who also heads the Russia-Africa Partnership Forum's Coordinating Council, said.
Stuglev expressed the belief that this cooperation had received extra impetus following the Sochi summit, noting that "a range of new joint projects is now at the stage of negotiations."
