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Vice President of the Chamber Vladimir Padalko Visited North Ossetia-Alania and Ingushetia, Discussed the Development of Tourism in the Caucasus30.11.2023In Vladikavkaz on November 30, Vice President of the Russian Chamber of Commerce and Industry Vladimir Padalko took part in the IX International Economic Forum “South Gate of Russia 2023”. The main topic of the forum was a discussion of the development of tourism infrastructure and support for export-oriented enterprises. Vladimir Padalko made a presentation “On the participation of the Russian Chamber of Commerce and Industry in the development of tourism in the Russian Federation,” talking about the activities of the relevant committee, territorial chambers, and “success stories” in this area. He also dwelled on problematic issues that prevent the regions from developing this industry more widely. The plenary session of the forum was attended by the Chairman of the Government of North Ossetia-Alania Boris Dzhanaev, guests from South Ossetia, Abkhazia, and Turkey. On the same day, Vladimir Padalko took part in a meeting of the Russian-Georgian Business Council in Magas (Republic of Ingushetia). The fifth meeting of the RGDS was devoted to the topic “Tourism. Cultural values in Russian-Georgian relations.” Members of the business council and invited guests discussed the following issues: the state of affairs in the national tourism industry of the two countries, the participation of regions in the development of domestic tourism. Interested companies showed presentations of tourism and cultural projects in Russia and Georgia. The leadership of the Republic and the Chamber of Commerce and Industry of Ingushetia not only presented national tourism and transport projects at the meeting. The meeting participants - representatives of Russian ministries and departments, and a delegation from Georgia - were also able to get acquainted with the main tourist sites of the republic by traveling to mountainous Ingushetia. There was also a meeting between the vice-president of the Russian chamber and the head of the Republic of Ingushetia, Mahmud-Ali Kalimatov. By Olga Stasyun, Department of External Relations
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The Head of the Chamber Katyrin Made a Working Visit to Turkey30.11.2023On November 30, President of the Russian Chamber of Commerce and Industry Sergei Katyrin spoke at the plenary session of the VII International Conference “Russian Pulp and Paper Industry: New Realities, New Opportunities,” which was organized by the Union of Timber Industry and Timber Exporters of Russia with the participation of the Russian Chamber of Commerce and Industry and took place in Istanbul. In his welcoming speech, Sergei Katyrin emphasized the role of the Chamber in ensuring the sustainable development of the forestry and paper industries in the face of unprecedented pressure from unfriendly governments. At the same time, he noted that Western companies are ready to continue constructive cooperation with domestic companies operating in the production of pulp and paper products. “Within the entire forest complex, the pulp and paper industry has demonstrated perhaps the greatest resilience. Core enterprises were able to adapt in difficult conditions and minimize the negative consequences of sanctions, problems with logistics and shortages of components and consumables, and find new solutions in the field of import substitution,” he noted. As a successful example of import substitution, he cited a joint project of the Arkhangelsk Pulp and Paper Mill and scientists from the Northern Federal University, which makes it possible to replace imported chemicals when bleaching paper. Speaking about interaction on the external track, Sergei Katyrin said that regional business is actively developing the markets of China, India, the countries of the Asia-Pacific region and the Middle East. At the same time, the geography of the business is expanding due to supplies to the countries of Africa and Latin America. “In many ways, the issue of increasing the export of Russian timber industry products depends on the effective solution of transport and logistics issues, including the optimization of railway transportation, the development of the Northern Sea Route, port infrastructure, and container lines,” he pointed out. The head of the Chamber held a meeting with the Vice President of the Union of Chambers and Exchanges of Turkey, President of the Istanbul Chamber of Commerce Şekib Avdagic. The parties discussed issues of strengthening interregional partnership of business circles and agreed to intensify interaction. Sergei Katyrin emphasized that Turkish entrepreneurs actively participate in congress and exhibition events in Russia, including at the site of Expocentre JSC. By Nail Shakhvaliyev, Press Service of the Chamber, and Sergey Markelov, Department of External Relations
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Katyrin Held a Meeting with Representatives of the Chamber Abroad29.11.2023On November 29, President of the Russian Chamber of Commerce and Industry Sergei Katyrin held a meeting with representatives of the Chamber abroad. At the beginning of the meeting, he cited statistics provided by the Federal Customs Service, according to which Russia’s foreign trade turnover in the three quarters of 2023 decreased by 16 percent. Exports to Europe decreased the most – 70 percent. Imports from Europe also fell by almost 10 percent. According to Katyrin, there has been a “strengthening of the Asian vector.” Thus, trade with Greater Asia now accounts for almost 70% or $227 billion, an increase of 10 percent. “By and large, a new geography of our foreign trade has emerged. I think that in the near future, at least in the medium term, this geography will be presented in this form,” he emphasized. Sergey Katyrin reported that the CCI system in the Russian Federation, in terms of developing international cooperation, has actively joined in solving pressing problems for business: entering new markets, searching for alternative suppliers, assisting in solving problems in “Western” jurisdictions, creating various platforms. For this purpose, foreign representatives, business councils, and partner organizations were involved. He noted the activities of Expocentre JSC, which holds from 80 to 100 exhibitions a year - all of them international. The activity of the Maritime Arbitration Commission (MAC) and the International Commercial Arbitration Court (ICAC) was also noted. “We have maintained our leadership among the leading institutions for resolving international disputes,” the head of the Chamber emphasized. Vice President of the Russian Chamber of Commerce and Industry Vladimir Padalko, during his report, pointed out that fundamental changes have occurred in the foreign economic situation. One of the most serious consequences of Western sanctions has been a significant reduction in Russian exports. “These data indicate that not all business entities were able to reorient themselves to new markets, find new partners and increase supply volumes to pre-sanction levels. The RF CCI, due to its status, can do a lot to overcome negative trends and become an important channel for reorienting trade flows to the markets of loyal countries. We have such resources, and they are considerable,” he emphasized. Vladimir Padalko reported that as of November 2023, the network of foreign representative offices of the Russian Chamber of Commerce and Industry covers more than 40 countries with its activities. There are 8 full-time representative offices in 7 countries, 4 of which have regional status. The institute of honorary representatives is actively developing. On a voluntary basis, the interests of the Chamber are represented abroad by 19 Russian entrepreneurs. The foreign economic infrastructure of the Chamber also includes Business Councils for cooperation with foreign countries. We currently have 78 bilateral tips in our arsenal. The vast majority of them are actively working in their areas. Separately, the Vice-President of the Chamber focused on the geographic priorities of work in the coming 2024. In particular, V. Padalko noted that the work of the CCI system in the Russian Federation with the CIS countries “has always been distinguished by mutual activity.” “Bilateral business councils and honorary representatives of the Chamber, primarily in Kazakhstan and Tajikistan, play an important role in maintaining a high level of interaction with partners in the post-Soviet space. We are considering the issue of expanding the geographic presence of the Chamber in Central Asia by appointing honorary representatives in Uzbekistan and Kyrgyzstan,” said the Vice President of the Russian Chamber of Commerce and Industry.Within the Asian track, the main directions of business activity are the countries of Southeast and South Asia - ASEAN, China, India, Turkey. Positions are also growing in India, which is also seen as a kind of “gateway” to neighboring countries that may be interesting from the point of view of promoting Russian goods - Nepal, Bangladesh, Sri Lanka, Pakistan. “As for the Middle East. We are seeing a significant increase in domestic business in the markets of these countries. The office of the Chamber's honorary representative in the Middle East, based in Dubai, remains extremely in demand. The Turkish direction is being “closed” by a full-time representative office, the Russian-Turkish Business Council. Other areas in the Middle East that should be given increased attention, in our opinion, are Iran and Syria. Egypt,” noted Vladimir Padalko. When working with European countries, he believes, it is important to maintain established connections and contacts and continue to develop cooperation in those areas that are not affected by the restrictions introduced. “The main support points of the Russian Chamber of Commerce and Industry in these states remain the representative offices in Germany, Austria and Serbia. We are considering the prospect of opening a Chamber office in Bosnia and Herzegovina,” he noted. In addition, active work continues to assist businesses in establishing mutually beneficial business cooperation with countries in Africa and Latin America. During the Russian presidency of BRICS next year, the active promotion of initiatives in the interests of entrepreneurs through the BRICS Business Council will continue. By Nail Shakhvaliyev, Press Service of the Chamber
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President of the Chamber Katyrin at the Opening of the Primakov Readings Confirmed the New Geography of Markets for Russia28.11.2023The IX International Scientific and Expert Forum “Primakov Readings” took place on November 27-28 at the International Trade Center in Moscow. The forum brought together famous experts, diplomats and politicians in the field of international relations and the global economy. In his speech, President of the Russian Chamber of Commerce and Industry Sergei Katyrin emphasized that today it is very important to strengthen the dialogue with representatives of the business community of friendly countries, strengthen industrial cooperation, and identify new promising ways of technological partnership.Katyrin expressed confidence that the so-called turn to the East has taken place - this is evidenced by the indicators of Russian foreign trade. According to the Federal Customs Service, trade with Asia today accounts for about 70 percent of Russia’s total trade turnover. At the same time, cooperation with Europe is steadily declining. Thus, exports to Europe for 9 months of this year decreased by 70 percent compared to the same period of the previous year, imports from Europe fell by 10 percent. Exports to Asia increased by 10%, imports from Asia by 40 percent. “Thus, today a new market configuration and a new geography are emerging for Russia. We believe that in the medium term, approximately this configuration will remain,” Katyrin said. Among the main tasks that the system of chambers of commerce and industry sets for itself, he named the expansion of cooperation with the business communities of the CIS countries, the EAEU, the SCO, and BRICS; countries of the Asia-Pacific region, the Middle East, Africa and Latin America. Katyrin also added that the Russian Chamber aims to monitor the situation, maintain long-term established ties, and support those foreigners who remained in Russia and continue to participate in the implementation of launched projects. At the opening, Assistant to the President of the Russian Federation, Chairman of the Forum Organizing Committee Yuri Ushakov read out Vladimir Putin’s greeting to the participants of the Primakov Readings. In his speech, Yu. Ushakov noted that the period of global dominance of the West, which began with the era of great geographical discoveries, is now ending, and the world is “moving away from Western-centricity towards multipolarity.” Ushakov also added that it is Russia, with the help of specific deeds and consistent policies, that contributes to the formation of a new world order and is the locomotive of this objective process.Deputy Chairman of the Federation Council of the Federal Assembly of the Russian Federation Konstantin Kosachev said that Russia, together with the world majority, today defends a democratic world order, while the collective West behaves “extremely authoritarian.” The President of the National Research Institute of World Economy and International Relations named after Yevgeniy M. Primakov (IMEMO RAS), Academician of the Russian Academy of Sciences Alexander Dynkin, spoke at the opening. By Nail Shakhvaliev, Press Service of the Chamber
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The President of the Chamber Met the General Director of the International Investment Project of the United Arab Emirates27.11.2023On November 27, President of the Russian Chamber of Commerce and Industry Sergei Katyrin held a working meeting with the General Director of the international investment congress in the United Arab Emirates “AIM Congress” Walid Farghal. The Annual Investment Meeting (AIM Congress) is an annual investment congress held in Abu Dhabi (UAE) on the initiative of the AIM International Foundation, an independent international organization whose goal is to expand the capabilities of the global economy by promoting promising projects and increasing economic productivity. In 2023, the Congress attracted over 10 thousand participants from 175 countries. During the meeting, Sergei Katyrin noted the importance of developing investment cooperation and strengthening bilateral dialogue between countries. He reported on the implementation of a project to introduce the Regional Investment Standard in the constituent entities of Russia and the role of the system of chambers of commerce and industry in this process, emphasizing that this experience can be useful to foreign partners both in implementing their own investment policy and in the case of investment projects in the regions of Russia. Нe also recommended that guests visit the international exhibition-forum “Russia”, which takes place in Moscow on the territory of the VDNKh exhibition complex, and noted that the RF Chamber of Commerce and Industry, together with regional chambers, actively and regularly participates in the work of the Forum. The President of the Russian Chamber of Commerce and Industry supported the idea of cooperating the system of chambers of commerce and industry with the AIM Congress and instructed to carry out preliminary work to prepare a delegation of regional chambers of commerce and industry to participate in the annual investment forum in Abu Dhabi (UAE) in May 2024. Walid Farghal spoke about the goals and objectives of the AIM Congress, noting the importance of comprehensive assistance in attracting foreign direct investment, developing small and medium-sized businesses, stimulating start-ups and implementing innovative projects. He emphasized that the Congress is aimed at supporting a wide range of economic sectors: industry, agriculture, energy, healthcare, technology, finance, etc. Traditionally, the AIM Congress brings together investors, representatives of government authorities, chambers of commerce and industry, private businesses, and financial institutions from various countries. Following the meeting, the parties agreed to maintain a working dialogue in order to coordinate joint business activities. The meeting was attended by Vice President of the Chamber Dmitry Kurochkin and AIM Global business manager for cooperation with Russia Olga Kolomeitseva. Department of Project and Investment Activities
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President of the Chamber Sergei Katyrin Assumed the Chairmanship of the BRICS Business Council 202410.11.2023On November 10, a meeting of the BRICS Business Council was held to transfer the mandate of chairmanship of the association from the Republic of South Africa to the Russian Federation in 2024. During the meeting, held via videoconference, President of the Russian Chamber of Commerce and Industry Sergei Katyrin accepted the credentials from Ms. Buzi Mabutsa, Chairman of the South African part of the BRICS Business Council. In his speech, Sergei Katyrin noted the excellent organization of the Annual Meeting and Business Forum by the Republic of South Africa, the rich program of working group meetings, as well as thematic sections and round tables held at the BRICS summit in Johannesburg in August this year. “We highly appreciate the approach of our South African colleagues, who set the task of emphasizing the high role and relevance of the Business Council in promoting the interests of entrepreneurs of our countries and developing trade and economic ties within the association,” said the head of the Russian Chamber of Commerce and Industry. “All representatives of the Russian part responded to your initiative to hold today’s extraordinary meeting and are ready to take up the baton of chairmanship of the BRICS Business Council,” said S. Katyrin. “We will be grateful for your recommendations for the presidency in 2024,” said the head of the Chamber. In her speech, Ms. Buzi Mabutsa presented the results and achievements of the BRICS Business Council during South Africa's chairmanship over the past year. Representatives of South African working groups spoke at the meeting, talking about cooperation in the field of aviation management, financial services, infrastructure and industrial production. Representatives of India Naveen Kapoor and China Liu Zheying addressed the meeting participants with greetings. “We in the Russian part of the BRICS BC approach the upcoming chairmanship with great responsibility. “10 years of joint hard work are behind us,” recalled the head of the Russian Chamber of Commerce and Industry. He assured that the results of the South African chairmanship of the Business Council, as well as the example in organizing the business program, will be developed on the agenda of the “Russian” year. “We are drawing up a plan for the main events of the BRICS Business Council, after approval of which we will hold a number of internal meetings and, from the beginning of the year, we will launch work through the secretariats and working groups of the national parts of the BRICS BC,” said S. Katyrin. From January 1, 2024, with the involvement of new colleagues, we are actually moving to a new level of work, primarily due to the effect of “scale”. Now not 5, but 11 states will participate in the work of the Council. At the same time, the number of representatives from national units increased from 25 to 55, said the head of the Russian Chamber of Commerce and Industry. “In this regard, we believe it is extremely important to competently and timely “immerse” our new colleagues in the current agenda. At the same time, we count on the active participation and support of all representatives in the current composition of the “five,” said S. Katyrin. The President of the Russian Chamber of Commerce and Industry thanked Buzi Mabutsa and her team for their joint work as part of the presidency of the BRICS Business Council in 2023 and invited her and all respected colleagues to Kazan - already in October next year. By Peter Cheremushkin, Press Service of the Russian Chamber of Commerce and Industry
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An Exhibition of African Art From the Collection of Marina Schmidt at the Chistye Prudy Gallery10.11.2023On November 8, in the gallery “On Chistye Prudy”, located in the building of the Business Center of the Chamber of Commerce and Industry of the Russian Federation, an exhibition of African art from the collection of Marina Schmidt “Africa: Love at First Sight” opened. About 200 works by contemporary African artists are presented on two floors of the Center. Particular attention is drawn to relief panels, wooden and bronze sculptures, and ivory sculptures. Traditional ritual masks, genre scenes from life, portraits, abstract works and phantasmagoric flights of fancy of artists - carvers from Tanzania, Mozambique, Mali, Congo, Guinea, Nigeria, Senegal, Zambia. Most of the works in the collection were purchased from Soviet specialists and their descendants who worked on the African continent, providing humanitarian and technical assistance to African countries. The exhibits presented at the exhibition date mainly from 1950-1980. It was then, in connection with the decolonization of African countries and their gaining political independence, that a rise in creative activity began, and recognizable new styles in painting appeared. The exhibition will last until December 3. Admission is free, the gallery is open daily from 10.00 to 20.00. By Peter Cheremushkin Press Service of the Russian Chamber of Commerce and Industry
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Sergey Katyrin: Customs is One of the Most Open Bodies for Business01.11.2023Ruslan Davydov, acting head of the Federal Customs Service of Russia, spoke at the plenary meeting and said that 25 states were participating in the Forum
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Katyrin Spoke at the Opening Ceremony of the XIII International Forum of the Exhibition Industry “5pEXPO-2023”25.10.2023Industry trade shows and exhibition activities in general are helping to increase connections between regions, especially now that supply chains are being restored. This was stated by the President of the Chamber of Commerce and Industry of the Russian Federation Sergei Katyrin in his welcoming speech at the opening of the IX All-Russian Conference on Exhibition, Fair and Congress Activities and the XIII International Forum of the Exhibition Industry “5pEXPO-2023”, held on October 24 at the Expocenter on Krasnopresnenskaya Embankment. “Today is the case when exhibitionists can talk about exhibitionists, about their problems, about their affairs, about what needs to be worked on,” said Sergei Katyrin, addressing the participants of the Exhibition Industry Forum. “Recently it has become clear that our entrepreneurs and manufacturers know little about what their neighbors are doing in terms of technology, what capabilities certain enterprises have, and what they can produce. We encountered this when we worked to overcome sanctions, when we restored broken supply chains, when we looked for suppliers. It was then that the governors realized that not only huge international forums were needed, but also regional exhibitions,” noted the President of the Russian Chamber of Commerce and Industry. Before the opening ceremony of the exhibition, the President of the Russian Chamber of Commerce and Industry inspected the exhibition, especially emphasizing the importance of developing exhibition sites in the regions. This year at the Forum the exhibition “Exhibition City 5pEXPO” was created. For the first time, the Department of Regional Development of the Russian Chamber of Commerce and Industry has formed a collective exposition of the Russian Chamber of Commerce and Industry “Regions”, where regional chambers of commerce and industry are represented: Moscow, Stavropol Territory, Moscow, Nizhny Novgorod, Kirov, Arkhangelsk, Vladimir, Bryansk, Tambov, Smolensk regions. According to the President of the Russian Chamber of Commerce and Industry, recently our situation with international partners has leveled off: some of them returned, others did not leave and continued to work. “Our foreign partners continue to work, for which we are grateful to them. They also participate in congress and exhibition activities. We would like to retain those who work in Russia and with Russia,” he said. Sergei Katyrin noted the work of the Russian Chamber of Commerce and Industry in the field of legislative activity, which produces concrete results. In particular, in July, the term “congress and exhibition event” was defined at the federal level. In September, the Government of the Russian Federation approved the Strategy for the development of congress and exhibition activities until 2030. “The main reference points have been outlined, but this does not mean that we have resolved all the issues. We, of course, would like a law on exhibition activities to be adopted,” emphasized S. Katyrin. The plenary session was addressed by Deputy Minister of Industry and Trade of the Russian Federation Alexey Gruzdev, President of the Russian Union of Exhibitions and Fairs, General Director of ExpoForum-International Sergey Voronkov, Deputy General Director of PJSC International Trade Center Vadim Subbotin, Deputy Director of the Roscongress Foundation, Director of the St. Petersburg International economic forum Alexey Valkov and others. The speakers noted that congress and exhibition activities continue to be one of the effective tools for demonstrating and promoting goods and services on the domestic market and maintaining business contacts with partners from foreign countries, but also the basis for building and establishing new business connections. Press Service of the Chamber
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President of the Chamber Sergei Katyrin Met with the Ambassador of Ethiopia to Russia18.10.2023The meeting between the head of the Chamber Sergei Katyrin, and the Ambassador of Ethiopia, Cham Ugala Uriyat, was devoted to discussing upcoming contacts between the business community of Russia and Ethiopia and the participation of the Chamber of Commerce and Industry. The meeting was attended by Vice President of the Chamber Vladimir Padalko, Deputy Director of the Department of External Relations of the Chamber Ilya Nesterov and others. As Sergei Katyrin noted, today the main task for the developing Russian-Ethiopian relations is to increase trade turnover between our countries. The Chamber system has capabilities that entrepreneurs can use and provides access to any point in the regions of Russia, S. Katyrin noted. According to him, there is an opportunity and need for the Ethiopian Chamber of Commerce and Industry to work more actively with Russian regions. The Ambassador of Ethiopia emphasized that recently there has been an increase in trade turnover, which was facilitated by the resumption of Ethiopian Airlines flights from Moscow, flying three times a week. This became possible thanks to the signing of an agreement at the Russia-Africa summit held in St. Petersburg. According to the Ambassador, an increase in the frequency of flights and the emergence of cargo flights will lead to increased cooperation. The President of the Chamber also welcomed the resumption of direct flights between Russia and Ethiopia and emphasized the opportunities opening up in this regard for increasing the tourist flow to African countries. He also especially noted that organizing direct, without the participation of intermediaries, supplies of products from Ethiopia to Russia, such as flowers and coffee, will increase profits for businessmen and will allow them to offer consumers the best prices. During the meeting, issues of holding a Russian-Ethiopian business forum, in which the Russian Chamber of Commerce and Industry could take part, were discussed the date of which will be decided in the near future. In this regard, Sergei Katyrin noted the importance of disseminating information about Ethiopia for Russian business and presenting this country at Expocentre exhibitions and in the regions. Press Service of the Russian Chamber
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In the Chamber Discussed the Future of Cooperation With the Sakarya Region (Türkiye)17.10.2023The delegation, headed by the Chairman of the Sakarya Chamber of Commerce and Industry Akgün Altug, is in Russia on a return visit after representatives of the Lipetsk Chamber traveled to Turkey
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Russian Guild of Bakers and Confectioners organizes Bakery Cup of countries-members of BRICS20.05.2024In the framework of the Russian Federation's BRICS presidency, BRICS Bakery Cup will be held in Moscow, May 20 – 26, 2024. The event will be organized by the Russian Guild of Bakers and Confectioners (RBC). The purpose of the BRICS Bakery Cup is to strengthen the friendship of nations, unite people, promote an atmosphere of international solidarity, tolerance and peace, since bread has been a symbol of life, peace, goodness, prosperity and unity of nations for many centuries. Teams of bakers from the Russian Federation, the People's Republic of China, India, Brazil, South Africa, Argentina, Egypt, Iran, the UAE, Saudi Arabia and Ethiopia will show their skills in the art of baking. In addition, business and cultural program will be organized for foreign delegations. We invite you to attend this event. Additional information is available on the website of the Russian Guild of Bakers and Confectioners. e-mail: info@rospik.ru www.bread-business.ru
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Africa Strives for a Balanced Relationship with Other Countries. What Will Russia Offer?13.01.2023The coming year should be a turning point in the development of Russia's economic relations with African countries. We have good prospects, but we will have to fight for a place under the African sun. We are not alone in appreciating the prospects of this continent. And not only appreciated, but set quite specific goals. At the US-Africa Leaders' Summit, which took place in mid-December, the White House clearly outlined a course to strengthen the position of American business in African markets. So the competition of the world's leading economies for the inclusion of the continent in the orbit of their interests is intensifying. The recently popular thesis is becoming an axiom that Africa will determine the future - and not only of its people, but of the whole world. From the point of view of economic development and the realization of national interests, it becomes a very specific call for the leading world powers to intensify their actions on the continent. Indeed, Africa today is a young, dynamically developing market, a continent that contains up to 30% of the world's mineral reserves, which are critical for the development of modern industry and high technology. According to experts, by 2050, 25% of the world's population will live there, and the volume of the consumer market will be $16 trillion. So the importance of Africa for world trade and investment will only increase in the foreseeable future. Against the backdrop of expert forecasts, the US-Africa summit, in a sense, launched the implementation of the US Strategy for Sub-Saharan Africa, adopted in August 2022. It just determines the goals of strengthening economic cooperation. Including in very sensitive promising areas - in energy, healthcare, agriculture, finance, infrastructure and communication technologies. In general, the adoption of the strategy and the assessment of the preliminary results of the last summit indicate that the United States is returning to Africa in earnest and for a long time. And they are not going to just hand over their positions to their opponents there. During the business forum, which was attended by representatives of about 300 American and African companies, trade deals totaling $15 billion were concluded. And other countries - China, Turkey, Japan - periodically hold their summits on cooperation with Africa. And Africa itself, in terms of building foreign policy, is no longer the same continent as it was 20 years ago. Despite all the interest in developing foreign trade and attracting foreign investment in the economy, most African countries are striving to build balanced relations with partners. And they want to avoid the negative consequences of major power rivalry. According to Western experts, the current African leaders recall with concern the times of the Cold War, when the confrontation in Africa on the principle of "us or them" in the long run did not contribute to economic integration and building a common market on the continent. Now about the main thing for us. What will Russia offer in response to all these Napoleonic economic plans? Today our trade with Africa is $18 billion. We have something to focus on and draw conclusions, developing strategies. For example, China's trade with African countries is almost 260 billion, the US - just over 60 billion dollars. Of course, we need non-standard and non-sanctioned flexible mechanisms to promote investment and trade with African countries. It is necessary to step up work with African countries on specific projects. Clearly define your competitive advantages in areas in key sectors of the economy. And around them to develop a system of priorities, support measures, promotion. At the same time, you should soberly assess your capabilities, taking into account high market competition. For example, American experts admit that in Africa, American companies cannot compete with Chinese firms in the construction of roads and bridges. They are offered to focus on cooperation in healthcare, financial technologies and renewable energy sources. It is here that the competitive advantages of American companies are valued especially highly. Maybe we should seize the initiative? At the same time, we need to intensify work on building a reliable infrastructure that will help level the existing problems associated with the disruption of transport and logistics chains, settlements on transactions, and restrictions on the access of our products to the markets. African partners should be encouraged to introduce systems of mutual settlements in national currencies and barter transactions. Develop preferential trade regimes, create free economic zones, industrial hubs. It is also important to more actively implement our plans to expand the network of trade representations in Africa, to open trading houses and Russian business support centers. Russian business circles, I know this for sure, are waiting for the concretization of plans and breakthrough decisions that, on the whole, will make it possible to realize the existing potential of trade and economic cooperation. I hope that by the end of next year it will be possible to confidently speak about a new qualitative level in the development of economic relations between our country and African states.
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The President of the Chamber On the Situation of Russian Business after the Departure of Foreign Companies09.01.2023Western sanctions have affected the work of most Russian enterprises, but about 25% of companies that have lost partners abroad have already found new ones. This was stated to RIA Novosti by the President of the Chamber of Commerce and Industry of Russia Sergey Katyrin. “We keep our finger on the pulse of business, first of all, of course, small and medium-sized ones as the most vulnerable. We are conducting a study called the Business Barometer of the Country, dedicated to the problems of entrepreneurs in the face of sanctions,” he said.“It turns out that the sanctions have had a noticeable impact on the work of more than 60% of those surveyed. At the same time, about 25% of companies that have lost partners abroad have found new ones,” the President of the Chamber added.However, nearly a third, he noted, were still looking for them, and they needed help. "For example, the Chamber recently organized a large business mission to Iran, 100 representatives of Russian companies took part in it," Katyrin said.At the same time, he pointed to the need to "accelerate the restructuring of the economy.""We need a monetary policy that takes into account the current realities. It is necessary to expand legislative support for entrepreneurship, help businesses find new foreign trade partners and consumers of our imports, and develop new supply chains," the head of the Chamber concluded.
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Sergey Katyrin Explained why Countries Aspire to BRICS16.11.2022Interest in the BRICS has increased dramatically in recent years. It can be said that a whole line of developing countries has formed, wishing to join this association of states. But how can we explain it? They are attracted by the alternative, said Sergey Katyrin, President of the Russian Chamber of Commerce and Industry, head of the Russian part of the BRICS Business Council, in an interview with the Novye Izvestia newspaper. The association, which today includes Brazil, Russia, India, China and South Africa, offers all-round cooperation for the free development of its members, as opposed to the dictates of the global political and economic agenda, which is being promoted with increasing difficulty by the United States today with the help of Western-oriented blocs. “Regarding dictatorship, these are not my words, it was written by Newsweek, but it's hard not to agree with such a statement,” Sergey Katyrin specified.According to the head of the Russian part of the organization’s Business Council, the development of comprehensive cooperation within the Russia-India-China “triangle”, which became the prototype of BRICS, was once suggested by Yevgeny Primakov, a politician, scientist who headed the Russian Chamber of Commerce and Industry for ten years. The Chamber actively promotes contacts between entrepreneurs from the BRICS countries, reduces administrative barriers, and implements joint projects, Sergey Katyrin stressed. He said that "the foundation of the organization in 2006, by the way, at the St. Petersburg International Economic Forum, caused, on the one hand, a certain skepticism, and on the other, noticeable dissatisfaction with the United States due to possible competition." "As the authority of the BRICS grows, the US will try to increase pressure on the countries participating in the association in order to maintain the title of the center of world civilization and the world economy that has been appropriated to itself," he said. Many states do not want to fit into such an American "system of behavior", and the BRICS provides such an opportunity, Sergey Katyrin explained. The purpose of creating the association is to promote the stable growth of the economies of the BRICS members, finance projects in the field of infrastructure and the organization as a whole, although the countries included in it have different economic potential, are characterized by a powerful developing economy and important resources for the whole world. The economic systems of the Commonwealth members have a huge impact on the world market, emphasizes the President of the Chamber of Commerce and Industry of the Russian Federation and cites the following data: the area of the current five countries of the organization is about 30 percent of the entire land mass, almost half of the world's population lives in them. In terms of GDP, China is the first economy in the world, India is the third, and Russia is the sixth. Many scientists and politicians today call BRICS a "new force" and sometimes even compare it with NATO or the UN. “This is fundamentally wrong,” explains Sergey Katyrin. - BRICS is not a formal alliance. Our organization has no headquarters, we have nothing to do with military agreements. BRICS does not have a charter and a permanent head, there is an annual rotation rule, when the work is coordinated by the next chair country. Members of the organization also have differences in geopolitical approaches. But this does not prevent work to strengthen economic and trade mechanisms outside the current Western framework. The participating countries observe equality and adhere to the principle of mutual respect. The leaders of the five states meet annually, and two dozen working groups have been created within the organization in various areas - agriculture, transport, energy, etc., they solve the issues raised at the next summit. BRICS has ambitious goals, including counteracting the global economic crisis, improving the quality of life of its population, the transition to high technology in all possible areas of life.Since 2015, the BRICS Development Bank has been operating - a kind of alternative to the IMF with a shareholder capital of $100 billion. The bank, Sergei Katyrin said, finances projects in the states of the association, naturally, and in Russia. Work is underway to create its own payment system BRICS Pay, which can be used in the participating countries. A pool of foreign exchange reserves of one hundred billion dollars has been created for use in unforeseen situations. The organization has a Network University with programs for masters, it works on the basis of universities of the participating countries. The creation of its own independent system of credit ratings is being discussed. This is necessary, if only because many well-known current rating agencies in their assessments are not exempt from political influence, which Russia has repeatedly seen from its own experience, said the President of the Russian Chamber of Commerce and Industry. The most promising solution here, according to Sergey Katyrin, is the creation of an Alliance of BRICS rating agencies, united by a common methodology. This will allow maintaining sovereignty in the regulation of credit ratings in each of the countries of the "five". “Here, in fact, is part of what the BRICS member countries are doing and what, I believe, is very attractive for many developing countries,” Sergey Katyrin noted. Applications for membership in the organization were filed by Argentina and Iran, just a few days ago - Algeria. Active interest in participation in BRICS.
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Dmitry Lyubomudrov: “There is no Dominance in BRICS, Every Project is a Balance”10.11.2022Industrial cooperation and cooperation are not on the agenda of BRICS summits and meetings. But the cooperation of production enterprises on the basis of equality - the main principle of the Association's existence - is extremely necessary and important in the conditions of the formation of new production chains. With these goals, the BRICS Industrial Coalition was created in 2021.On the sidelines of the International Architectural Congress recently held at the WTC Moscow, representatives of the WTC press service spoke with Dmitry Lyubomudrov, co-chairman of the Council of the BRICS Industrial Coalition, CEO of the Design Process Club, member of the Council of the Russian Chamber of Commerce and Industry on financial, industrial and investment policy.The BRICS Industrial Coalition was created quite recently, in 2021. For what purposes was it created? Who is in the Coalition today?The BRICS industrial coalition is an association of enterprises to build production chains in the new conditions, when the unipolar world has ended, and new type macro-regions are just being created. A lot of Western equipment supply chains, repair and service contracts, and logistics have been broken. In fact, the entire commercial world is forced to reformat a large percentage. The global division of labor has collapsed. And we can no longer rely on the Western system, including the system of commercial law, arbitration, logistics, insurance, industrial chains. We can't rely on American microchips or German machines, even if it's all done in China.If contractors are in the Western world, we are forced to abandon them for the sake of supply and production security. And, since the leaders of our countries have agreed that Russia will build a new world order based on BRICS - these are the words of Russian President Vladimir Putin, the words of Foreign Minister Sergei Lavrov, and other BRICS countries will also build the world order in our macroregion - and this is a big part of the world, then we need new types of tools for this, such as the BRICS Industrial Coalition.As you know, BRICS is not an organization. If the SCO, for example, has an international General Secretariat, there is a vertical, then BRICS is a club of state leaders. And decisions are made at summits, where it has been repeatedly stated that the leaders of the BRICS states urge and encourage public business associations of their countries to engage in cooperation and build chains of interaction with each other.For 8 years now, we have had a non-profit partnership, the BRICS Joint Center for Business Cooperation (BRICS UCBC), on the basis of which BRICS industry associations have begun to be created. And in order to have not only intra-industry, but also inter-industry chains, new joint ventures, new BRICS factories, the BRICS Industrial Coalition was created. An industry association is a community in which members can compete with each other, and this makes cooperation difficult, it is difficult for them to build cross-industry chains, since the members of the association are concentrated in one area. And the BRICS Industrial Coalition was created in order for one plant to do one thing, another - another, a third - a third.The idea was born in the Russian national part of BRICS. We decided that we should set a worthy example. In order to invite enterprises from other countries, we must first assemble our factories and form a national base. Before making investment proposals for a particular plant, it is necessary that he himself prepares his base, products, achieves some success, attracts Russian contractors, partners, and shows that the chain is working. And then, in this consortium, it is already possible to invite companies from the BRICS countries and say: look, we have everything ready, we are guided by the decision of the summits, the decision of the BRICS heads of state, we have prepared the infrastructure, so we invite you and are ready to come to you.We are already running the first such project - IT Technopark named after A.V. Suvorov under the auspices of the BRICS Industrial Coalition in the Kursk region. IT is the most advanced, fastest, most urgent field. For example, the lack of microcircuits is a worldwide problem, both Western and Eastern countries face it. This is an aggravation of the situation with the Taiwanese company TSMC, American threats of war, the same as in Ukraine. Officially, our factories can no longer receive chips from Taiwan, and they need to be replaced with something. Parallel import - yes, we solve these problems too, but this is a temporary solution to problems. And the real solution is to gather factories of the BRICS and BRICS+ countries, and this is another 50 countries, and what we ourselves cannot do in the machine tool industry yet, take it in China, take it in India, take it elsewhere. Thus, a new joint venture is created, and the manufactured products are offered for distribution to other BRICS and BRICS+ countries.These countries have earnings and at the same time they are still involved in the control of the process. That is, if you co-invested in a microchip plant, you know that there will no longer be American "bookmarks" there.
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Vladimir Padalko: Business and Investment Environment in China will Remain Predictable10.11.2022Vice President of the Chamber Vladimir Padalko commented on the results of the 20th Congress of the Communist Party of China - Speaking about the groundwork that was formed by the 20th Congress of the Communist Party of China, we can assume that new faces in the Politburo will strengthen the position of the country's leader, which will definitely contribute to the planned reforms. As some experts expect, the appointment of Li Qiang, a supporter of technological entrepreneurship, to a high government post can give a new impetus to the digital transformation of the Chinese economy. I would like to believe that with his assistance, China will set an example for the rest of the world not only in the speed of digitization of all aspects of society, but also in how to ensure the outstripping growth of human intelligence over artificial intelligence. The retention of the current Foreign Minister Wang Yi in the Politburo gives us reason to expect the PRC's foreign policy towards Russia to remain unchanged, but with less regard for the United States. As for the ideological message of the congress, the desire of the Chinese friends to take responsibility for the future of the world and overcome the limitations of the Western model of development based on the idea of colonial aggression and robbery of other countries deserves praise. The lessons of Chinese modernization, the desire of Chinese thinkers to transform and expand the Western model, seem to be timely and instructive. The proposed alternative in the form of a “community with a common destiny for mankind” may have a bright future. To do this, it must be simple and understandable, its meaning and postulates in all languages of the world and by all peoples must be interpreted and perceived unambiguously, be in harmony with nature, not contradict the moral and ethical principles developed by all mankind over thousands of years of history. It will have to take into account not only the Chinese specifics and developments in the transformation of the positive historical experience of Western civilization, but also, most importantly, the ideas and dreams about the image of the future that the rest of humanity has. This also applies to business. The business environment of our countries is looking forward to what results the 20th Congress will bring to entrepreneurs, what form and rules the trade and economic cooperation of our countries will be in the coming new era. So far, we have heard from the leadership of the PRC about the immutability of China's already set course for international cooperation, in which the business and investment environment for foreign capital in the PRC will remain predictable. I would like to believe that the planned and ongoing purchases of new aircraft by China will mark the end of the “zero tolerance policy” and the beginning of a new stage in the establishment of business ties, the revival of tourism and related industries. This can truly breathe life into the economies of our countries. Source: https://www.rbgmedia.ru/post.php?id=16476
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The Head of the Chamber Believes that Foreign Business Would Return to Russia - interview with "Rossiyskaya Gazeta"30.06.2022Excerpts from the interview of the head of the Chamber to the main government newspaper of the Russian Federation For the most part, foreign business shows no desire to leave Russia and tries to maintain relations with Russian partners. In such circumstances, we should not abandon the cooperation we have been building with them for years. Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation, spoke about this in an interview with “Rossiyskaya Gazeta” – main Russian official newspaper. How much does the withdrawal of some Western companies from the Russian market affect today? Are they gone forever? And what about trade relations with the West? Are those ties broken forever? Sergei Katyrin: You need to understand that we have developed long-term stable ties with the West, especially actively developed in recent decades. And to say that everything, from tomorrow we have no interests in the West, I think, is wrong and completely unpromising. Relationships should be maintained wherever possible. Undoubtedly, not everyone will be able to maintain them, and these sanctions will be with us for a long time, if not forever. However, I think that somehow countries will slowly start crawling out from under them: at first, without advertising, but less to comply with all restrictions - to buy something, sell something, and so on. There is also a foreign business that has invested a lot of money in Russia and does not want to lose it. Now some of them are forced to leave Russia, tighten up, reduce the volume of trade and production, and behave more modestly in the Russian markets. However, such decisions are made under strong pressure, primarily from governments, the leadership of these countries and public opinion. In the overwhelming majority of cases, foreign companies do not want to leave Russia. This is evidenced by the results of our numerous meetings with business associations of foreign countries - German, American, French, Japanese. Anyway, many of them hope that in the future they will return and work in our market. Inevitably, there will be those who want to work with Russia, do business here, keep themselves on our territory, or come later. Therefore, we must maintain relationships with those with whom we worked. At least we in the Chamber try to maintain relations with partners and convey to colleagues that any quarrel ends in peace. And sooner or later we will have to build bridges, so now it is better not to destroy them.
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African Market is Very Promising for Russia—Vladimir Padalko29.04.2022Vice President of the Chamber of Commerce and Industry of the Russian Federation, Mr Vladimir Padalko, has described the African market as very promising for Russian companies, especially those intending to localize their production on the continent blessed with several resources. In this insightful interview with our Media Executive Kester Kenn Klomegah, he also discussed the existing challenges and emerging prospects especially for strengthening trade and economic relations with Africa, amid unprecedented stringent sanctions by the United States, European Union and their Pacific allies. Here are the interview excerpts: What can we expect from the second Russia-Africa summit scheduled for this year? Is it worth talking about increasing the level of Russian investment, and strengthening interaction with African businesses? The second Russia-Africa summit will become an important starting point for cooperation between the Russian Federation and African countries. The economic situation for Russia has now changed dramatically, while most countries on the continent have refrained from participating in anti-Russian sanctions. Therefore, we are talking about the formation of new approaches in a wide field of interaction, adjustment, or rather an expansion of those strategic tasks that were formulated at the first Russia-Africa summit. Let me remind you that three years ago, priority areas for economic cooperation were identified in a number of industries. These are energy, infrastructure development, especially railway construction, mining and processing of minerals, agriculture, digital technologies, medicine, science and education. These priorities will be voiced at the second summit as well. But I think that the main topic of the upcoming forum will be the formation of new tools for fruitful cooperation between Russia and Africa, including new methods of mutual settlements, logistics routes, media and cultural communication. How competitive is the current African market for Russian companies and potential investors who have shown interest in Africa? In recent years, many African countries no longer experience a lack of attention from foreign partners. Unfortunately, today the share of Western states, as well as China, in trade with African countries is much higher than Russia’s. But, nevertheless, our country is able to occupy significant niches in many areas. We sell very popular goods in Africa: fertilizers, oil products, wood products, plastics, rolled metal products, grain, certain types of machinery and equipment, and vehicles. In turn, African countries are ready to supply the Russian market with a whole range of food products, with the supply of which problems have recently arisen. And in some countries, in particular, South Africa, there are good products in mechanical engineering, chemical, and food industries, which will also be useful for us today. The African market today is very promising for Russia, but also very difficult. Russian business needs to work on it thoroughly and systematically in order to achieve success. Does the Chamber of Commerce and Industry of the Russian Federation intend to encourage Russian companies to localize their production in African countries, thereby using one of the most reliable ways to expand trade and economic cooperation? The Chamber of Commerce and Industry of the Russian Federation supports all positive trends in business, including foreign economic activity. The localization of Russian production in African countries is already a mature stage of cooperation when companies understand all the specifics of doing business in a particular country and are confident in the long-term nature of project implementation, and the return on their investments. In my opinion, now for the majority of Russian companies that intend to work in Africa, it is important to create a set of tools that will allow them to confidently develop their business with the countries of the continent. The Chamber of Commerce and Industry of the Russian Federation has already prepared a set of proposals that should seriously help the promotion of Russian business to African markets. The initiatives were discussed and approved at the last meeting of the heads of business councils at the Chamber of Commerce and Industry of the Russian Federation for cooperation with African countries. For example, it is important that Russian banks come to Africa. Now there is only one bank – it is very small for the whole continent. We need settlement banks that would work with different currencies, and not just with dollars and euros. The President of the Russian Chamber of Commerce and Industry Sergey Katyrin, in a letter to the Chairman of the Government of the Russian Federation Mikhail Mishustin, proposed to conclude intergovernmental agreements with African states on the use of national currencies in mutual settlements and payments. It was also proposed to work out the issue of establishing a specialized export-import bank and a trust fund to support the export activities of small and medium-sized businesses in African countries. We really need a Russia-Africa trading house. In connection with the latest events in the world, international logistics have seriously changed. We need commodity hubs that work for several countries at once. As you can see, we are now at the stage of creating an infrastructure that will allow us to reach a qualitatively new level of cooperation between Russia and Africa. Business needs vital information, knowledge about the investment climate, and the specifics of work in a particular country. Business needs vital information, knowledge about the investment climate, and the specifics of working in a particular country. Do you think there is an information vacuum between Russia and Africa? The information vacuum definitely exists, and this obstacle should first be removed. One of the most effective tools in this direction is holding exhibitions. Experience indicates that business in Africa shows great interest in them. In connection with this, the CCI of the Russian Federation proposes to redirect the funds allocated for exhibitions in Europe to the organization of exhibitions and business forums in African countries. But at the same time, it is necessary to work quickly – it takes an average of six months to prepare any exhibition, and the situation in this area can change dramatically. It is also necessary to organize business missions more often, hold roadshows, presentations of Russian companies in African countries. The online format of communication is good, but direct contact, so to speak, on earth is always effective and brings returns. I would like to note that the CCI of the Russian Federation intends to actively contribute to the expansion of the network of trade representative offices in Africa. Currently, there are only four Russian trade missions operating on the continent; Morocco, Algeria, Egypt and South Africa. There should be more of them. What do you think are the main problems for foreign players on the African continent, what hinders the development of trade and the influx of Russian investments into African countries? Trade and economic cooperation is always a bilateral process. African countries need to further develop financial and investment infrastructure, which foreign partners, in our case, Russian ones, will be able to rely on. Do not hope that investors will come, find promising projects on their own and implement them at their own expense. At the same time, the experience of the Soviet Union shows that it is possible and necessary to cooperate with African countries in a broad format. However, the economic model of interaction is now fundamentally different – no one will recklessly invest. All work is based on a mutually beneficial basis. At the same time, Russia is now living in fundamentally new economic realities. Many communications, logistics, and supply chains have been disrupted. Business is forced to adjust strategies for working with foreign partners and to look for new opportunities for their development. And in this situation, cooperation in friendly areas – with African countries – becomes one of the priorities. At the end of this exclusive interview, what are your final motivating words and what can you wish for potential clients and partners in Africa? Africa has changed a lot in recent years. A number of countries show high rates of economic growth, new industries are developing, enterprises are opening, and not in the sphere of primary processing of minerals and agricultural raw materials. The African continent has become a place of expansion for many foreign companies. Russia cannot stand aside from this process. Businesses need to take the initiative and take a certain risk – it is like two sides of a coin. The main thing is that our country has a good mood for the development of cooperation, and this is unambiguous on the part of African countries as well. So, we will succeed. There is a wide field of collaboration ahead.
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Igor Morozov, Chairman of AFROCOM: “For Russia Africa is the last relatively free market for the export of domestic goods”14.02.2022In recent decades, Africa has become the main continent for which an active struggle is unfolding between the Euro-Atlantic region and Greater Eurasia. Therefore, there is nothing surprising in the fact that the European Union is increasing its trade turnover with African countries, and today it amounts to more than 300 billion dollars a year.
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TASS: the Managers of the Chamber Said that the Business of Russia and the United States is Set to Develop Cooperation09.02.2022It would be extremely unwise for politicians to destroy excellent opportunities for cooperation, said the head of the chamber, Sergei Katyrin
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Russia Ready To Bolster Ties With Ethiopia In Multifaceted Areas Of Cooperation: Senator Igor Morozov13.07.2023Addis Ababa, July 12, 2023 (FBC) – A preliminary session of the Second Russia-Africa Summit held in Addis Ababa on Wednesday in the presence of representatives of the government and the business community of the Russian Federation and Ethiopian dignitaries. In his opening remarks, Ambassador of the Russian Federation to Ethiopia, Evgeny Terekhin, stated that Russia attaches greater importance to its ties with Africa in the social, economic, cultural and humanitarian spheres. Russia played a significant role in supporting African nations when they struggled against colonialism, and the political and diplomatic relations with his country and countries of the continent has continued to be strengthened over the decades. “The political dialogue between the Russian Federation and African nations has not stopped for a single moment since the establishment of the traditional relations between the two sides,” he underscored. “We are committed to strengthen our traditional relations with African nations in economic technical areas based on principles of equality and mutual trust,” he said. “We are working to facilitate conditions that would enable us to employ national currencies of countries to expedite trade ties between African nations, he said.” Member of the Upper Chamber of the Federal Assembly and Chairman of the Coordinating Committee for Economic Cooperation with African Countries (AFROCOM), Igor Morozov, stated that Africa is a continent with a productive young population and immense resources, reiterating the commitment of his country to deepen cooperation with the country in a wide range of areas including trade, economy, science, education, digital technology, health and agriculture. AFROCOM has six offices in Africa including the one it opened last year in Addis Ababa, Igor Morozov said, adding that this shows how Russia is committed to expand trade and economic ties with the continent. “The west has been trying to sever the ties between Russia and Africa, but our relationship has thrived withstanding all challenges,” he noted. Regarding the bilateral relations between Ethiopia and Russia, the Senator stated that Russia will remain to be nation’s close partner in the diplomatic, political, cultural and humanitarian spheres. Russian companies are ready to participate in the Ethiopian economy in the fields of production and assembly of cars, tractors and other agricultural equipment, he said, pledging commitment to attract more other investments to the country. He also appreciated Ethiopia’s aspiration to join the BRICS bloc. Concerning cooperation in the science and education sectors, Senator Igor said ROSCOSMOS will share its immense experiences in the Space Science Aerospace Research fields with Ethiopia. Russia is also ready to establish a trade house in Addis Ababa as part of its ongoing activities to bolster economic and investment ties with Ethiopia and the continent Africa at large. He further expressed his confidence that the Second Russia-Africa Summit would serve as a good platform in strengthening comprehensive and equal cooperation between Russia and Africa countries. President of the Chamber of Commerce and Sectoral Associations of Ethiopia, Melaku Ezezew, for his part, said “this is the right time to tighten economic and cultural ties between Africa and Russia,” calling the upcoming Russia-Africa Summit a good opportunity in this regard. “Its cooperation with Russia in areas of science, trade and technology transfer is vital to Ethiopia so as to accelerate its economic growth and achieve development goals,” Melaku pointed out, affirming the commitment of the association in strengthening economic and investment partnership between the two sides. By Wondesen Aregahegn
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#SPIEF2023 | Foreign Investors Express Huge Interest, Focus on Acting Jointly – Dmitry Kurochkin18.06.2023At the St. Petersburg International Economic Forum, we also heard from the vice president of Russia's Chamber of Commerce and Industry, who provided a picture of investment prospects in Russia.
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