Putin: Africa, Russia trust must develop into economic cooperation

By Al Mayadeen English
Source: Agencies
2 Aug 2023 23:52

The Russian President emphasizes the need to convert political trust with African nations into robust economic cooperation, citing Africa's promising development prospects.

Russian President Vladimir Putin delivers a speech at the Kremlin's St. Catherine Hall in Moscow, Russia, Wednesday, Aug. 2, 2023 (AP)

Following a report by Russian Economic Development Minister Maksim Reshetnikov on the outcomes of the Russia-Africa Summit, Russian President Vladimir Putin emphasized, in a meeting with cabinet members, the need to build upon the political trust established between Russia and African nations, by fostering deeper economic cooperation.

"We do have to translate the level of political trust [between African countries and Russia] into economic cooperation," President Putin stated. He further emphasized that Russia considers African countries as friends, and they reciprocate the sentiment, viewing Russia as a trusted ally.

Putin highlighted the ongoing efforts of the Eurasian Economic Union (EAEU) countries in drafting agreements to establish a free trade zone with Egypt, Morocco, Tunisia, and Algeria. He expressed interest in exploring other regions of Africa, acknowledging the continent's potential as a development hotspot.

"There are many more so-called development hotspots there, on that continent, and there are very interesting countries. So we cannot in any case miss out on other regions," the Russian President urged.

"Therefore, we should take a comprehensive approach to these issues, without grabbing at one traditional thing."

The Second Russia-Africa Summit and Economic and Humanitarian Forum commenced in St. Petersburg from July 27 to July 28, where Russian President Vladimir Putin emphasized his country's sincere desire to build a strategic and multifaceted partnership with African nations.

During the summit, President Putin commended African leaders for demonstrating political will, independence, and genuine interest in bolstering ties with Moscow.

The leaders' commitment to success in the Russian-African partnership was evident, reaffirming their collective dedication to unlock new areas of mutually beneficial cooperation.

Putin expressed his belief in creating a fair, democratic, and multipolar world order based on universally recognized principles of international law and the United Nations Charter. The summit successfully established a mechanism for dialogue, enabling Russia and African nations to coordinate efforts in addressing global challenges such as terrorism, extremism, and food crises.