Angolan president addresses Russia-Africa Summit Thursday
Sochi, ANGOLA, October 24 - Angolan head of state Joao Lourenço is expected to deliver his speech this Thursday at Russia-Africa Summit of Heads of State and Government taking place in Soch, Russia.,
The host country’s President Vladimir Putin, will open the event.
Also speaking at the official opening ceremony is the Egyptian President, Abdul Fattah Al Sisi, who will address an audience of about 50 African leaders.
The Summit is discussing the strategies for starting a new page in multilateral cooperation between Africa and Russia, one of the main investors on the continent.
African leaders and guests will come up with pressing issues focused on viable and alternative solutions to empower Africa.
It’s Russian Government’s major commitment to consolidate its areas of influence on the continent and increase its investments to continue to compete on an equal footing with US and China.
In recent years, the European power has based its cooperation on various areas of expertise, with emphasis on the energy, security and diplomacy sectors.
As for its foreign policy, Russia has increased its trade balance with African countries from USD 5.7 billion in 2009 to USD 20.4 billion in 2018, still seen as below that of Chinese investment.
Data indicate that in the construction sector alone, China has invested USD 2 trillion in Africa since 2005, leaving Moscow as an alternative partner, mainly for diplomatic support to the UN Security Council.
Russia consolidates its cooperation with African countries through a strong focus on the energy sector, where it has broad experience, investments in oil and gas, and nuclear expertise.
It also offers relatively cheap military cooperation and weapons to countries with small purses but major security issues.
Like other world powers, Russia is keeping an eye on Africa, which is becoming increasingly important as its population grows.
Estimates indicate that Africa's population is expected to double by 2050 and the economy is expected to expand significantly alongside its energy consumption.
On the sidelines of the event, the Angolan Head of State, João Lourenço, will hold meetings with some African counterparts, as well as be received in audience by Russian President Vladimir Putin.
The Summit was preceded by a Russia-Africa Economic Forum, which has been running since Wednesday, gathering over 3,000 invited businessmen.
A joint final communique is expected to be produced at the end of both events later Thursday afternoon.
,
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
