Moscow Sees Good Prospects For Russia-Africa Trade, Economic Cooperation - Diplomat

Moscow Sees Good Prospects for Russia-Africa Trade, Economic Cooperation - Diplomat

Russian-African cooperation has long-term prospects in the trade, economic and investment sectors, Oleg Ozerov, deputy director of the Russian Foreign Ministry's African Department, said on Wednesday

SOCHI (Pakistan Point News / Sputnik - 23rd October, 2019) Russian-African cooperation has long-term prospects in the trade, economic and investment sectors, Oleg Ozerov, deputy director of the Russian Foreign Ministry's African Department, said on Wednesday.

"For our part, we are developing institutional and financial systems to support Russian business in every possible way, we are helping to expand Russian presence in Africa. We also rely on proposals from our African colleagues to work out long-term comprehensive projects that can make a significant contribution to building mutually beneficial trade, economic and investment ties. I am sure that Russian-African cooperation in this area has good and long-term prospects," Ozerov said on the sidelines of the Russia-Africa summit in Sochi.

He noted that in recent years, some states in the region had made notable efforts to enter the international capital markets, increasingly using them to finance development instead of traditional loans.

"In the strategic perspective, the sustainable development of African countries will be associated with the full use of investment potential by attracting interested companies to organize the financing and implementation of projects on their territory," the diplomat said.

The two-day Russia-Africa Economic Forum, co-chaired by the presidents of Russia and Egypt, began in Sochi on Wednesday. Over 40 African nations are being represented by heads of state or government at the summit, while 11 others sent their vice presidents, foreign ministers or ambassadors.

The Rossiya Segodnya International Information Agency is an official media partner of the event.