BY DRAXON MALOYA.
Sochi, Russia. (News of The South) – The energy and mining sectors are expected to get a Russian boost that will contribute in the economic development of the country.
Minister of Foreign Affairs and International Cooperation, Francis Kasaila said this on Sunday in Sochi, Russia ahead of the first Russia-Africa Summit to be held from October 23 to 24, 2019.
Russian President Vladimir Putin will host a total of 35 African Heads of States and Government to the summit in the Black Sea Resort City of Sochi.
The summit is aimed at renewing Russian-Africa cooperation.
The Malawi leader President Peter Mutharika will attend the summit.
“We are pleased that we are getting more countries involved in the development of our
continent and Malawi in particular, it is good that with the coming in of Russia, we have more stakeholders in the development process of the country,” Kasaila said.
He further said that Malawi and other African countries have an opportunity to woo investors from Russia who can bring technology and invest in the country, to create more economic opportunities for Malawians.
“Russia is a huge country. It has technology, experience, manpower and, therefore, it is good for us in Africa,
“But as Africa, we would like to see to it that we are able to create opportunity for our youths because they are in majority. If we cannot attract investors to invest in Africa then these youths will be forcing themselves to travel out of Africa which is a challenge,” said Kasaila.
Minister of Trade, Industry and Tourism Salim Bagus echoed Kasaila’s sentiments saying Malawi will specifically woo investors in energy and mining.
“This is a great opportunity for Malawi. After our discussions during the economic forum to be held this week, we will open trade links with Russia.
“We have brought officials from Malawi Investment and Trade Centre (MITC) to identify other possible areas of trade where Russian companies can invest,” said Bagus.
In his pre address statement to participants to the Russia-Africa summit, Russian President Vladimir Putin said the forum will help identify new areas and forms of cooperation.
He also put forward promising joint initiatives that will bring the collaboration between
Russia and Africa to qualitatively new level and contribute to the development of
economies and the prosperity of the people.
The summit will be preceded by an open plenary session of the Russian-African Forum which will be addressed by President Putin and Egyptian President Abdel Fattah El Sisi who is the current Chairperson of the African Union.
In his pre address to the participants to the summit, President El Sisi underscored the
importance of the event noting that it is the first of its kind during the period of major global and international transformation.
“African countries and Russia have common positions in their international actions based on the principles of respect for international actions and respect for international law, equality, non interference in the internal affairs of states, the peaceful settlement of disputes and a commitment to multilateral actions in accordance with the two sides’ similar vision of how to confront new international challenges,” said Sisi.
More than 30 business exhibitions will be conducted on the sidelines of the Russia-Africa economic forum and panel sessions on security and industrial collaboration between Russia and Africa.
At the end of the summit a joint communiqué on trade, economic and investments agreements will be signed by African heads of state and Government.
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