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Russia’s Far East Witnessing Series of Record-Breaking Agreements

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Eastern Economic Forum Russia Far East Record-Breaking Agreements

By Kestér Kenn Klomegâh

Vladivostok, located in Russia’s Far East, hosted the 8th Eastern Economic Forum (EEF) from 12th to 13th September 2023 in an attempt to define further the development of this remote region. Since the beginning of the EEF in 2015, it has, until COVID-19 was followed by Russia’s own ‘special military operation’ in neighbouring Ukraine, the focus was largely on harnessing resources from the United States and Europe to the Far East region of the Russian Federation.

Speeches and all kinds of remarks highly praised Western, European and Asia-Pacific participating countries and corporate enterprises under resonating themes such as ‘A Common Economic Space from the Atlantic to the Pacific: The Greater Eurasian Partnership’, which was framed to develop trade and economic cooperation from Lisbon to Vladivostok. Research shows that the EEF held previously, especially the first three in 2015 to 2018, strategically aimed at broadening international cooperation and promoting the Far East as the gateway to the Asian-Pacific region.

Despite the series of sanctions, corporate European businesses are still highly interested in Russia, and Russia recognizes these businesses’ enormous significance and invaluable contributions to its economy. Foreign Minister Sergey Lavrov, during those hay years, had always been the guest speaker during the Association of European Business (AEB), an organization which unites European companies in the Russian Federation.

“We value opportunities for dialogue with European entrepreneurs aimed at pushing forward a pragmatic, politics-free and mutually beneficial agenda designed to improve the wellbeing of the people in Russia,” Lavrov said and rained a lot of praises when the AEB marked its 25th year early October 2020. The interest in strengthening and diversifying trade and economic ties had grown since the Soviet collapse. According to statistics, the European Union’s investment in Russia reached almost US$300 billion back in 2019.

Russia is ready to build its relations with the European Union along some principles. The European Union remains its important trade partner. As before, there is optimism that both are open to cooperation; European partners are keen on building businesses in the economic space from Lisbon to Vladivostok, this vast country and in the Eurasian region.

Obviously, the future Russia and European business relations could still be consolidated despite the current political differences. After all, Russia and the EU countries not only belong to the same cultural and civilizational matrix but are also linked by many ties in trade and investment cooperation, scientific and technological exchange and personal contacts. Russians spend their vacation in Europe. There are visible signs that Europeans are interested in Far East development projects and participating in diverse spheres in cooperating with the economy there.

Even long before COVID-19, Russia continued working on attracting investment to the Far East from external countries and enterprises. Outcomes of the 2019 forum (that was the 5th forum) released by the forum organizers, for instance, showed that among the 65 countries represented were Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Slovakia, Spain, Switzerland, Sweden and the United States.

The 2019 forum business dialogues included ‘Russia-Europe’ among the six for that year. One of the expert business lectures was the United Kingdom on economics and international relations. The session was moderated by Sergei Brilev, Russia TV Channel Anchor and Deputy Director and President of the Bering Bellingshausen Institute for the Americas. And there at the session, Vladimir Putin acknowledged hosting over 8,500 participants from 65 countries. Since the first forum, representation had increased more than twofold, a convincing indication of growing colossal interest in opportunities offered by the Russian Far East.

Prime Minister of Japan Shinzō Abe: “I want you to spread the wings of imagination and see the new opportunities Japan can bring into your future. Let us create history together; let us pave the way.”

Prime Minister of Malaysia Mahathir Bin Mohamad: “It was great to hear that of all regions, Russia is going to develop the Far East. Russia is one of the few countries that is located both in Europe and Asia. Its unique geographical location makes it a bridge between East and West, between Europe and Asia. I suppose this unique situation will help Russia play an important role in both Europe and the Far East.”

“We are still going to aim high. At the same time, if, before the first EEF five years ago, you had asked me to guess the future – I don’t think I would have said 1800 projects. Perhaps I would have been ambitious enough to guess 300, and I would have thought that daring. 1800 projects launched in the Far East – it is simply amazing. I am confident the preferential economic policy, initiated at the behest of the President of the Russian Federation, works,” said Yuri Trutnev, Deputy Prime Minister of the Russian Federation, Presidential Plenipotentiary Envoy to the Far Eastern Federal District.

The 5th anniversary Eastern Economic Forum was record-breaking in terms of participation numbers and the total worth of contracts signed during the event. These accomplishments prove that the Forum became a significant platform to promote international cooperation and discuss relevant global and regional economic issues,” said Anton Kobyakov, Advisor to the President of the Russian Federation and Executive Secretary of the Eastern Economic Forum Organizing Committee.

Over the past few years, there have been brief analytical summaries showing increasing trade relations between Russia and China. In particular, and from a geopolitical point of view, China is moving towards attaining its global status within the evolutionary processes of multipolarity. China is building on its potential facilities to penetrate through the Far East to Central Asia and former Soviet republics.

However, with the complexities and contradictions of the geopolitical situation, Russia has abandoned its initial post-Soviet Western and European dreams. The United States, Europe and the Baltics were all deleted from Russia’s radar. Russia is partitioning rather than pursuing an integrative multipolar world. At least, these are very visible within the framework of its foreign policy.

Outcomes of the 4th EEF (September 2018) held under the theme ‘The Far East: Expanding the Range of Possibilities’ were significantly not different. It featured the President of the People’s Republic of China, Xi Jinping; the President of Mongolia, Khaltmaagiin Battulga; the Prime Minister of Japan, Shinzō Abe; and the Prime Minister of the Republic of Korea, Lee Nak-yon.

President of the People’s Republic of China Xi Jinping emphasized: “The Eastern Economic Forum, established by the initiative of President Putin, has already been successfully held three times and has become an important platform for consolidating brainpower and discussing key cooperation-related matters. This year, the Forum is attended by an unprecedented number of guests and friends from different countries.”

President of Mongolia Khaltmaagiin Battulga said: “The Annual Eastern Economic Forum is becoming an important discussion platform for outlining further ways of cooperation for the APR countries. Each year, the level of participants is rising, and the Forum is expanding.”

Prime Minister of Japan Shinzō Abe: “Russian–Japanese relations are now going through a breakthrough period with unprecedented acceleration. The plan of bilateral cooperation that we discussed with President Putin includes over 150 projects. Over a half of them are already being implemented or are approaching this stage.”

Prime Minister of the Republic of Korea Lee Nak-yeon said: “Leaders of the Northeast Asian states have gathered at this platform to consolidate efforts and ideas for the development of the Far East and ensure peace and well-being for the region. This is crucial.”

Over 340 heads of foreign businesses took part in the forum. There were 6,002 delegates, and 220 agreements worth 3.108 billion roubles were signed (only agreements, the value of which does not constitute a commercial secret). The most significant agreements were:

  • Baimskaya Mining Company, KAZ Minerals PLC, the Government of Chukotka Autonomous Area and the Ministry of Economic Development of Russia signed an agreement in the amount of 360 billion roubles on the implementation of the investment project to develop the Baimskaya ore zone (Chukotka Autonomous Area);
  • United Aircraft Corporation (UAC) and Aeroflot signed an agreement in the amount of 210 billion roubles on the consignment of Sukhoi Superjet 100 aircraft;
  • Nakhodka Fertilizer Plant and Far East Development Corporation signed an agreement to create a clean methanol and ammonia production facility;
  • NOVATEK, Government of Kamchatka Territory and Ministry for the Development of the Russian Far East signed an agreement in the amount of 69.5 billion roubles on the construction of a terminal for transhipment and storage of liquefied natural gas;
  • Russian Direct Investment Fund (RDIF), Japanese conglomerate Marubeni Corporation and AEON Corporation signed an agreement on the terms for financing the construction of a chemical cluster in Volgograd;
  • The Russian Direct Investment Fund, Alibaba Group, MegaFon and Mail.Ru Group announced a new strategic partnership to integrate Russia’s key consumer internet and e-commerce platforms and launch a leading social commerce joint venture in Russia and the CIS;
  • Leonid Petukhov, CEO of the Far East Investment and Export Agency, and Yoichi Nishikawa, CEO of Iida Group, signed an agreement in the amount of 14.960 billion roubles on cooperation in the implementation of the project for the construction of a wood processing complex for the production of sawn timber for wooden model houses, as well as the construction and sale of wooden low-rise houses;
  • Aysen Nikolayev, Acting Head of the Republic of Sakha (Yakutia), and Yuri Korotaev, CEO of Duracell Russia, signed the agreement in the amount of 15 billion roubles on interaction in the area of social and economic development of the Republic of Sakha (Yakutia);
  • Dmitry Kobylkin, Minister of Natural Resources and Environment of Russia, and Yuri Korotaev, CEO of Duracell Russia, signed an agreement on mutually beneficial cooperation in the establishment of a new class 2 waste management system;
  • Rosneft and Beijing Gas Group Co. Ltd. signed an agreement to secure the essential conditions for the establishment of a joint venture for the construction and operation of a network of gas filling compressor stations (CNGS) in Russia;
  • Gazprom and Mitsui & Co. Ltd. signed a memorandum of understanding on the Baltic LNG project in order to consider the opportunities for cooperation in the project;
  • Far East Development Corporation and Rostelecom PJSC signed an agreement on connecting the 18 advanced special economic zones in the Far East to fibre-optic communication lines;
  • Novatek and Rosatomflot signed an agreement on the intention to jointly develop and build an icebreaker fleet operating on LNG.

The 6th Eastern Economic Forum (2021) still has restrictions in place due to the risk posed by the coronavirus. This, of course, affected the number of participants at the event. Nevertheless, more than 4,000 participants, including more than 400 heads of companies. Westerners and Europeans disappeared from the forum. Online guest speakers included the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev and the President of Mongolia, Ukhnaagiin Khürelsükh. There were also video greetings by President of China Xi Jinping, Prime Minister of the Republic of India Narendra Modi, and Prime Minister of the Kingdom of Thailand Prayuth Chan-o-cha.

In addition to the usual discussion on the Far East, there was a discussion on the Greater Eurasian Partnership. A range of topics came under the spotlight, including the values of young people from the Far East, obstacles encountered by young entrepreneurs, the education system, the impact of social media, the future of the financial market, copyright, raising investment, getting young people involved in developing the urban environment, career guidance, cooperation with young people in other countries, and the adaptation of the tourist industry.

But a record 380 agreements were signed worth a total of RUB 3.6 trillion (excluding agreements where the figures were classified as commercial secrets), according to the official documents. Twenty-four were signed with foreign and international companies, ministries, and government bodies, including nine with China, six with Japan, three with Kazakhstan, and one with Austria, Vietnam, Canada, Serbia, South Korea, and Ethiopia.

Quite recently, the 7th Eastern Economic Forum concluded in September 2022. With the major challenges that Russia is facing from sanctions, the macro-regions importance is growing rapidly. Russian President Vladimir Putin noted an enormous contribution to building business ties between Russia and the countries of the Asia-Pacific region. He remarked, “there is already a trend of the Asia-Pacific region becoming a centre of world economic activity, along with the gradual extinction of industrial centres in Europe and the United States.”

According to the forum documents, it was the first post-COVID forum and was attended by more than 7,000 guests. Despite the sanctions and external pressure, 2,729 investment projects are being implemented in the Far East. More than 290 agreements were signed for a total of RUB 3.27 trillion, including agreements on infrastructure and transport projects, the development of large mineral deposits, as well as construction, industry, and agriculture. More than 7,000 participants from 68 countries and Russia’s territories, including 1,700 business representatives from 700 companies. Western and Europeans disappeared at the 2022 forum. Asian countries have become new centres of economic and technological growth and points of attraction for human resources, capital and industries.

Adviser to the Russian President and Executive Secretary of the EEF 2022 Organizing Committee, Anton Kobyakov, remarked that “Vladivostok could become Russia’s international tourist gateway to the Asia-Pacific region. Let foreign tourists come and bring their relatives and friends.” But the new opportunities mean work needs to be intensified with only friendly countries.

For the year 2023, the Southeast Asian business community, in particular, expressed an active interest in Russian projects and a readiness not only to talk but also to take concrete action, according to the Business & Financial newspaper Izvesti.

“The main issue is agreements on cooperation, technological interaction and the creation of joint ventures. And one thing is certain: The Far East becomes the primary location for potential developments and availability of multiple opportunities,” Georgy Ostapkovich, Director of the Center for Market Studies at the Higher School of Economics (HSE University), noted. He emphasized that it is currently difficult to quantify the number and value of contracts signed at the event. Analysts had predicted that the number of contracts inked at EEF-2023 would be the same as last year, which came in at around 3.2 trillion rubles ($33.08 billion).

Russian President Vladimir Putin said at the opening session that the government would not allow the pace of development to slacken in the Russian Far East as it is a strategic region for the country. “We will definitely not be scaling down the pace of development in the region because the development of the Far East is an absolute priority for Russia, a direct priority for Russia as a whole for the entire 21st century, because it is a colossal region with a small population but huge potential. Of course, this is a strategic interest for the country,” the president said at the Eastern Economic Forum, which Vladivostok hosted on September 10-13.

The Eastern Economic Forum (EEF) is held annually in cooperation with the Far East regional administration in the city of Vladivostok. Three years of COVID-19, followed by Russia’s ‘special military operation’ and the current geopolitical situation, have adversely affected this corporate business event, as Russia looks towards the East and makes the main focus on developing the Far East. One of the crucial steps, which is missing, are to see the essential results since its launch in 2015.

For the past few years, Western and European businesses have largely been missing in this forum. And those from Asia and the Pacific are getting fewer and fewer as opportunities seem monotonous and speeches have the same message relating to world geopolitics. Analysts, expressing much concern, say business people are really looking for corporate business opportunities, not hard geopolitics. From the perspective of investors, the region is of serious interest, but there is an imbalance between practical investment and economic potential in the region.

Many of the speakers were very frank and objective in their speeches and highlighted possible ways for modernizing the region. It is important to highlight concrete success stories. In other words, reshaping and scaling up efforts are necessary, leading to cutting the white ribbons marking the completion of projects. The Eastern Economic Forum was established by decree of President of the Russian Federation Vladimir Putin in 2015 to support the economic development of Russia’s Far East and to expand international cooperation in the Asia-Pacific region.

Given the vast territory of the Far East, 6.3 million people translate to slightly less than one person per square kilometre, making the Far East one of the most sparsely populated areas in the world. Until 2000, the Russian Far East lacked officially-defined boundaries. A single term, “Siberia and the Far East”, often referred to Russia’s regions east of the Urals without drawing a clear distinction between “Siberia” and “the Far East”. However, the Far East is generally considered the easternmost territory of Russia, between Lake Baikal in Eastern Siberia and the Pacific Ocean.

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Pope Francis Dies at 88 After Protracted Illness

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pope francis

By Adedapo Adesanya

Pope Francis has died at the age of 88 after battling illness in the last couple of months.

The Vatican announced his demise on Monday morning, a day after Easter.

The pontiff, who was Bishop of Rome and head of the Catholic Church, became pope in 2013 after his predecessor, Benedict XVI resigned.

His death was announced by Cardinal Kevin Farrell in a statement released by the Vatican.

He said: “Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis.

“At 7.35am this morning, the Bishop of Rome, Francis, returned to the house of the Father. His entire life was dedicated to the service of the Lord and His Church.

“He taught us to live the values of the Gospel with fidelity, courage and universal love, especially in favour of the poorest and most marginalised.

“With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite merciful love of the One and Triune God.”

The process for choosing a new pope – conclave – generally takes place between 15 and 20 days after the death of a pontiff.

Cardinals from around the world will gather in the Vatican and choose the new leader of the Catholic church.

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Russia’s Business Integration and Geopolitics of Multipolar World

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St. Petersburg International Economic Forum 2025.

By Kestér Kenn Klomegâh

Popularly referred to as Roscongress Foundation, St. Petersburg International Forum (SPIEF) has been its main cornerstone. The SPIEF has, all these years, focused on charting dignified internal economic integration utilizing available resources, both natural and human capital and combined with financial capability, and the possibility of increasing exportable goods to make a better world.

Since its establishment by a decree of Russian President Vladimir Putin, it has marked chronological achievements in boosting and strengthening corporate investor networking and entrepreneurship. It has also taken several key initiatives to foster potential entrepreneurship, leveraging the vast opportunities and supporting the growth of small and medium enterprises (SMEs) in the Russian Federation.

According to reports, designing business brands, expand their objective reach to internal Russia’s landscape, and developing markets in neighboring Soviet republics and farther down in Africa, Asia, Europe, United States and Latin America. Ultimately, the SPIEF is unreservedly committed to providing the necessary support to enable both the state-to-state and the private sector to thrive. Building on the previous unerasable achievements, SPIEF’s mid-June 2025 edition will continue to serve as a solid platform, particularly for corporate networking, brainstorming and collaborating on strategies for potential business developments and their subsequent growth.

The architecture of the entire business programme on 18–21 June, has been fixed, and the theme designed as “Shared Values: The Foundation of Growth in a Multipolar World”, reflecting major shifts in international cooperation and the role of universal values in enabling sustainable economic development.

During the discussions, SPIEF participants will assess and review the effectiveness of measures taken, in the past years, to achieve Russia’s economic stability and progress, and concretely to determine further economic development trajectories in the Russian Federation and its footprints in different regions in the world amidst the current geopolitical challenges.

“We are witnessing tectonic shifts in the world. Not only is the economic map changing, but so too, in some sense, are the systems of economic activity and social relations in a number of countries and even intergovernmental blocs. The St. Petersburg International Economic Forum is becoming more than just a space for dialogue and the generation of ideas and solutions. It is turning into a platform where new meanings and even new practices emerge that can shape the contours of the future.

“It’s important not only to observe these changes, but to drive them and set their direction. And all of this must happen through a format of meaningful, trust-based and collaborative dialogue,” said Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the SPIEF Organizing Committee.

The business programme has been structured around four key thematic pillars, each revealing a different dimension of global and national transformation. The central pillar, “Development Economics: Ensuring Growth”, reflects the logic of new economic thinking. It covers two major areas. “The Global Economy: A New Platform for Global Growth” focuses on the resilience of macroeconomic models, investment strategies, the expansion of logistics routes, and the development of new markets.

Discussions will address the future of international trade and supply chain transformation, the role of small and medium-sized businesses, and the regional and sector-specific dimensions of economic policy. Another major area is “The Russian Economy: A New Level of Growth”, which explores the opportunities and challenges facing the Russian economy amid global shifts.

Topics will include building an effective new-cycle economic model, strengthening the resilience of domestic industries, and developing priority sectors such as manufacturing, agriculture, and high technology. This track will also cover Russia’s innovation potential, its integration into global economic processes, investment attraction strategies, and the strengthening of the domestic market.

These themes are directly linked to technological sovereignty and innovation. The “Technology: Pursuing Leadership” pillar will focus on key directions in technological development from AI and automation to independence in microelectronics, new materials, energy, and cybersecurity. At the core is the formation of a sustainable and competitive technological base capable of ensuring the long-term development of the economy and society.

Technological advancement is impossible without a stable value system and strong cultural identity. That’s why the third pillar, “The Living Environment”, will address information sovereignty, cultural identity, social cohesion, and international humanitarian cooperation. Participants will explore how meaning is shaped and communicated in the media landscape, the mechanisms of trust in the digital age, and the role of tradition and historical memory.

This naturally leads into the fourth pillar, “The Individual in a New World”, which will focus on quality of life, health, education, family well-being, urban development, and personal fulfilment. Special attention will be paid to youth and women’s participation in the economy, new employment formats, and managing human capital as a key resource for the future.

The programme will also include sector-specific and international events that have already proven to be essential gathering points for the professional community. Among them are the SCO and BRICS Business Forums, the B20 Forum, the SME Forum, the Creative Industries Forum, and the ‘Ensuring Drug Security’ Russian Pharmaceutical Forum.

The traditional format of business dialogues with representatives from China, India, Africa, Latin America, the Middle East, ASEAN, the CIS, and the EAEU will support the expansion of bilateral and multilateral ties, showcase investment projects, and explore industrial and scientific cooperation opportunities. Additional events will include business breakfasts with leaders of major companies, project presentations, public interviews, agreement signings, and an exhibition programme.

This year’s SPIEF will also host the General Assembly of the Organization of Asia-Pacific News Agencies (OANA), as well as the Day of the Future International Youth Economic Forum. The latter is supported by Friends for Leadership, an organization accredited by the UN Economic and Social Council (ECOSOC), which brings together young leaders, entrepreneurs and experts from over 100 countries. It was created by the Roscongress Foundation following the 19th World Festival of Youth and Students in 2017.

From the above discussion, reiterating that the theme, “Shared Values: The Foundation of Growth in a Multipolar World”, reflects profound shifts in the framework of international cooperation. Rapidly evolving economic and political processes are transforming the global landscape. The current changes demand broad expert discussion, and SPIEF, as one of the largest business forums, provides a platform for an open dialogue. In addition, it aims to become a space where new ideas are born, shaped into strategy, and transformed into real-world processes that can help shape the future.

The Roscongress Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives. The Roscongress Foundation was established in pursuance of a decision by the President of the Russian Federation.

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Trump’s Tariffs, Russia and Africa Trade Cooperation in Emerging Multipolar World

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Trump's Tariffs

By Kestér Kenn Klomegâh

With geopolitical situation heightening, trade wars are also becoming increasingly prominent. The 47th United States President Donald Trump has introduced trade tariffs, splashed it over the world. China, an Asian trade giant and an emerging economic superpower, has its highest shared.

South Africa, struggling with its fragile foreign alliances, is seriously navigating the new United States economic policy and trade measures, at least to maintain its membership in the African Growth and Opportunities Act (AGOA) which is going to expire in September 2025.

It is a well-known fact that AGOA waived duties on most commodities from Africa in order to boost trade in American market. The AGOA also offers many African countries trade preferences in the American market, earning huge revenues for their budgets. Financial remittances back to Africa also play mighty roles across the continent from the United States.

That however, the shifting geopolitical situation combined with Trump’s new trade policies and Russia’s rising interest in Africa, the overarching message for African leaders and business corporate executives is to review the level of degree how to appreciably approach and strengthen trade partnership between Africa and Russia.

The notion of a new global order and frequently phrased multipolar world, indicating the construction of a fairer architecture of interaction, in practical terms, has become like a relic and just as a monumental pillar. Even as we watch the full-blown recalibration of power, the geopolitical reshuffling undoubtedly creates the conditions for new forms of cooperation.

In this current era of contradictions and complexities we are witnessing today, we must rather reshape and redefine rules and regulations to facilitate bilateral and multilateral relations between African countries and Russia, if really Russia seeks to forge post-Soviet strategic economic cooperation with Africa.

In fact, post-Soviet in the sense that trade is not concentrate on state-to-state but also private – including, at least, medium scale businesses. The new policy dealing with realities of the geopolitical world, distinctively different from Soviet-era slogans and rhetorics of ‘international friendship and solidarity’ of those days.

Bridging Africa and Russia, at least in the literal sense of the word, necessitates partial departure from theoretical approach to implementing several bilateral and multilateral decisions, better still agreements reached at previous summits and conferences during the past decade.

Understandably Africa has a stage, Russia termed ‘the struggle against neo-colonial tendencies’ and mounting the metal walls against the ‘scrambling of resources’ across Africa. Some experts argued that Africa, at the current stage, has to develop its regions, modernize most the post-independence-era industries to produce exportable goods, not only for domestic consumption. Now the emphasis is on pushing for prospects of a single continental market, the African Continental Free Trade Agreement (AfCFTA).

This initiative, however, must be strategically and well-coordinated well, and here I suggest integration and cooperation starting at country-wide basis to regional level before it broadly goes to the entire continent, consisting 54 independent states.

These are coordinated together as African Union (AU), which in January 2021 initiated the African Continental Free Trade Agreement (AfCFTA). With this trading goals in mind, Africa as a continent has to integrate, promote trade and economic cooperation, engage in investment and development. In that direction, genuine foreign partners are indiscriminately required, foreign investment capital in essential for collaboration as well as their entrepreneurial skills and technical expertise.

For instance, developing relations with Asian giants such China and India, the European Union and the United States. A number of African countries are shifting to the BRICS orbit, in search for feasible alternative opportunities, for the theatrical trade drama. In the Eurasian region and the former Soviet space, Kazakhstan and Russia stand out, as potential partners, for Africa.

Foreign Affairs Minister Sergey Lavrov has said, at the podium before the staff and students at Moscow State Institute of International Affairs in September, that trade between Russia and Africa would grow further as more and more African partners continued to show interest in having Russians in the economic sectors in Africa. This provides greater competition between the companies from Western countries, China, and Russia. With competition for developing mineral resources in Africa, it is easier and cheaper for African colleagues to choose partners.

As far back in October 2010, Russian Foreign Affairs Ministry posted an official report on its website that traditional products from least developed countries (including Africa) would be exempted from import tariffs. The legislation stipulated that the traditional goods are eligible for preferential customs and tariffs treatment.

Thereafter, Minister Sergey Lavrov has reiterated, in speeches, trade preferences for African exporters, but terribly failed to honour these thunderous promises. Notwithstanding the above granting trade preferences, there prevailing multitude of questions relating to the pathways of improving trade transactions, and removing obstacles including those Soviet-era rules and regulations.

Logistics is another torny hurdle. Further to this, Russian financial institutions can offer credit support that will allow to localize Russian production in Africa’s industrial zones, especially southern and eastern African regions that show some stability and have good investment and business incentives.

In order to operate more effectively, Russians have to risk by investing, recognize the importance of cooperation on key investment issues and to work closely on the challenges and opportunities on the continent. On one hand, analyzing the present landscape of Africa, Russia can export its technology and compete on equal terms with China, India and other prominent players. On the other hand, Russia lacks the competitive advantage in terms of finished industrial (manufactured) products that African consumers obtain from Asian countries such as China, India, Japan and South Korea.

Compared to the United States and Europe, Russia did very little after the Cold War and it is doing little even today in Africa. On 27th–28th July 2023, St Petersburg hosted the second Russia-Africa summit. At the plenary session, President Vladimir Putin underscored the fact that there was, prior to the collapse of the Soviet, there were over 330 large infrastructure and industrial facilities in Africa, but most were lost. Regarding trade, Putin, regrettably, noted Russia’s trade turnover with the African countries increased in 2022 and reached almost US$18 billion, (of course, that was 2022).

Arguably, Russia’s economic presence is invisible across Africa. It currently has insignificant trade statistics. Until the end of the first quarter of 2025, Russia still has a little over $20 billion trade volume with Africa. Statistics on Africa’s trade with foreign countries vary largely.

For example, the total United States two-way trade in Africa has actually fallen off in recent years, to about $60 billion, far eclipsed by the European Union with over $240 billion, and China more than $280 billion, according to a website post by the Brookings Institution.

According to the African Development Bank, Africa’s economy is growing faster than those of any other regions. Nearly half of Africa is now classified as middle income countries, the numbers of Africans living below the poverty line fell to 39 percent as compared to 51 percent in 2023, and around 380 million of Africa’s 1.4 billion people are now earning good incomes – rising consumerism – that makes trade profitable.

Nevertheless, there is great potential, as African leaders and entrepreneurial community are turing to Russia for multifaceted cooperation due to the imperialist approach of the United States and its hegemonic stand triggered over the years, and now with Trump new trade tariffs and Washington’s entire African policy.

China has done its part, Russia has to change and adopt new rules and regulations, pragmatic approach devoid of mere frequent rhetorics. It is important discussing these points, and to shamelessly repeat that both Russia and Africa have to make consistent efforts to look for new ways, practical efforts at removing existing obstacles that have impeded trade over the years.

Sprawling from the Baltic Sea to the Pacific Ocean, Russia is a major great power and has the potential to become a superpower. Russia can regain part of its Soviet-era economic power and political influence in present-day Africa.

Certainly, the expected superpower status has to be attained by practical multifaceted sustainable development and by maintaining an appreciably positive relations with Africa. We have come a long way, especially after the resonating first summit (2019 and high-praised second summit (2023), several bilateral agreements are yet to be implemented. The forthcoming Russia – Africa Partnership summit is slated for 2026, inside Africa and preferably in Addis Ababa, Ethiopia.

Kestér Kenn Klomegâh is a frequent and passionate contributor. During his professional career as a researcher specialising in Russia-Africa policy, which spans nearly two decades, he has been detained and questioned several times by Russian federal security services for reporting facts. Most of his well-resourced articles are reprinted in a number of reputable foreign media.

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