October 29, 2019
anna Murray
Russia’s President Vladimir Putin hosted the very first Russian-Africa Summit in the Black Sea resort of Sochi in Russia during October 23 and 24. The Summit was co-chaired by Egyptian President Abdel Fattah
Al-sissi, who also acts as the President of the African Union right now.
President Putin intended to develop strategic relations with African countries as Africa is increasingly becoming a continent of opportunities. As President Putin described, these opportunities include natural resources, infrastructure development and increasing consumer demand from a growing population. In addition, President Putin specifically mentioned Russia would not exploit any sovereign African governments.
According to the agenda from Espresso Economist, Russia's trade with Africa had increased by 335% between 2006 and 2018. It exceeded more than trades from both China and India combined. (Espresso Economist is a morning briefing from the editors of the Economist which delivers worldwide agenda in business, finance, and politics to your smartphone or inbox before breakfast.)
Analysts assumed Russia would offer Africa primarily mercenaries, military equipment, mining investments, nuclear power plants, and railroad transportation. Since Russia is also the world’s largest wheat exporter, there would be supplies of grain and fertilizer for the growing population in African countries.
As imposing sanctions against Russia’s invasion and annexation of Crimea of Ukraine, the US has targeted Russia with the Countering American Adversaries Through Sanctions Act since 2017. This Summit would benefit Russia from settling down new economic alliances with African countries and having access to new markets for reviving the Russian economy.
President Putin affirmed his ambition in the Summit in front of more than 40 African leaders and thousands of participants to intensify trade relations between Russia and Africa. Africa and Russia apparently are working closely towards win-win partnerships.
Photo:Webshot.