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Friday, 06 December 2019

Russia seeks to benefit from African Continental Free Trade Agreement, Egypt as a hub

Sarah El-Essaway from Sochi , Thursday 24 Oct 2019
Nikita Gusakov
Nikita Gusakov CEO of Russian expert Center Kikita Jasagov
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The CEO of the Russian Agency for Export Credit and Investment Insurance (EXIAR), Nikita Gusakov, said on Thursday that Russia was seeking to benefit from the African Continental Free Trade Agreement, noting that the main challenge was to attract Russian companies to Africa.
To achieve this goal, cooperation with the African Export-Import Bank ought to be established, Gusakov said.

In a statement to Ahram Online on the sidelines of the second session of the Russia-Africa Summit in Sochi, Gusakov stated that Russia had several sectors of priority for export to Africa, including railways, agricultural and medical equipment, information systems, and electronic services.

He also said Egypt was the first country to organise the Africa-Africa Trade Conference last year and was a major hub for Russia to do business in the African continent. He added cooperation was established with Banque Misr to finance trade in Africa and open new doors for trade exchange.

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