The Russia-Africa Economic Forum took place on 23 and 24 October 2019 at the Sirius Science and Arts Park in Sochi to discuss the challenges of the Russian-African partnership and the new perspectives of cooperation.
The forum was co-chaired by Russian President Vladimir Putin and Egyptian President Abdel Fattah el-Sisi, who is also the current chairman of the African Union. The event attracted African leaders and more than 3,000 business entities from Russia and Africa.
In his speech at the opening ceremony, Putin predicted that Africa’s gross domestic product (GDP) will be around 29 trillion U.S. dollars by 2050. He also said that trade between Russia and Africa in the past five years increased more than twice, now totaling more than 20 billion U.S. dollars.
By hosting the forum, the first of its kind, Russia wants to seek trade agreements and partners for its large energy, mining and defense companies.
The two-day economic forum included several panel discussions, which address sustainable development, science, education and the implementation of transport infrastructure projects.
The participants also discussed cooperation in the fields of diamond industry, energy and digital technology.
Copyright Reuters Thomson 2019. Image courtesy of iStockPhoto.com