Association For Strategic Culture and Research Foundation

Russian President Vladimir Putin has sent warm greetings to African leaders, business people and participants early October, signaling that everything is set for the first Russia-Africa Summit in Sochi, southern coastal city of Russia.

It was highly unique step forward in October 2019, during the first Russia-Africa Summit, Russian President Vladimir Putin and Egyptian President Abdel Fattah el-Sisi reaffirmed commitment to scale-up cooperation in various economic sectors and particularly expedite work on the special industrial zone and the construction of proposed four nuclear power plants, raising hopes for an increased power supply in Egypt.

Vladimir Putin is the President of the Russian Federation. He took part in the plenary session of the Russian Energy Week International Forum held on October 13-15, in Moscow.

VOA’s Peter Clottey spoke with Akinwumi Adesina, Nigerian economist, to discuss why he thinks the continent is ripe for foreign investment – especially from the United States. This interview has been edited for brevity and clarity.

United States investors are looking forward to exploring several opportunities in the African Continental Free Trade Area (AfCFTA), a policy signed by African countries to make the continent a single market.

We welcome the African Continental Free Trade Area, because we want to see Africa’s economic power in the world grow. More consumers should gain access to African goods and services. More jobs must be created for Africa’s young people – the global workforce of the future.

The United States and China both have skin in the APEC game. The setting in which they must deal is multilateral, and their dealings are on full display to all other 19 members. APEC is not a negotiating forum that delivers formal inter-state agreements or has legal supra-national authority. It gives equal voice to, and requires consensus among, all its members, large, small and middling. It is no accident that the Biden-Xi summit follows hard on the heels of APEC.

This year marks the 65th anniversary of the start of diplomatic relations between China and African countries. Over the past 65 years, China and Africa have forged unbreakable fraternity in our struggle against imperialism and colonialism, and embarked on a distinct path of cooperation in our journey toward development and revitalization. Together, we have written a splendid chapter of mutual assistance amidst complex changes, and set a shining example for building a new type of international relations.

Egyptian foreign ministry officials interviewed for this paper describe the last decade of Egypt’s regional positioning as “defensive” in nature as the country contended with domestic issues.

The aim of the EU programme -- called Global Gateway -- is to help underpin the global recovery by mobilising investments in digital, clean energy and transport networks, as well as boosting health, education and research systems across the world. Low and middle-income countries were already facing a US$2.7 trillion infrastructure investment gap before the pandemic, according to World Bank estimates.

Long before this summit, European Union members and business investors have been making consistent efforts at capitalizing on and exploring several emerging opportunities offered by the newly introduced African Continental Free Trade Area (AfCFTA), which provides a unique and valuable access to an integrated African market of 1.3 billion people. In practical reality, it aims at creating a continental market for goods and services, with free movement of business people and investments in Africa.