A report by the Modern Diplomacy newspaper said that Russia's development of cooperation and trade relations with countries it describes as "friendly", especially in Africa, remains the logical solution to the problems afflicting the Russian economy, according to what Russian officials believe.
Russia is now experiencing a new economic reality in light of the sanctions imposed on it, where supply chains are disrupted, its relationship with many countries is cut, logistical supplies are disrupted, and companies are forced to adjust their strategies for working with foreign partners and searching for new opportunities for development.
This comes at a time when the Russian Chamber of Commerce and Industry in cooperation with the "AfroCom" held a meeting that included leaders of major business companies, during which it urged more attention to the African market and to work in those markets in a more systematic and steadfast manner.
The newspaper quoted Sergei Catherine, President of the Russian Chamber of Commerce and Industry, as saying - during the opening of the meeting - that African markets are competitive and complex, pointing to the need for Russian business companies to take a comprehensive and systematic approach when working in those markets to ensure success in them.
Catherine emphasized that the Chamber of Business received many requests from the regional chambers regarding opportunities to develop trade and economic relations between small and medium-sized companies with Africa.
Kartin pointed out that the Russian commercial presence in the African continent is very limited, noting that trade cooperation with the countries of the African continent now requires a new approach by business companies and the state, and long-term programs to support entrepreneurship and foreign economic activity.
Big demand for information technology
The Modern Diplomatic report says that with the increase in US and European sanctions currently imposed on Russia, the Russian Trade and Industry Organization is now turning to Africa.
It has opened offices in the Ugandan capital, Kampala, and the Ethiopian capital, Addis Ababa, where the African Union is located.
The Modern Diplomatic report notes that there is a huge demand today in Africa for IT technologies and it is noteworthy.
Companies there can also develop their capabilities, create their own digital platforms, and operate successfully.
The newspaper points out that there are many technology parks on the African continent, with 10 of them in Ethiopia alone, and they bring great benefits to the economy.
Many Russian-African relations collapsed with the collapse of the Soviet Union, and were replaced by new players on the brown continent, but Russia is still able to restore its position in Africa, according to the newspaper.
In this regard, Sergey Catherine noted that due to the suspension of many exhibitions in Europe planned by the ministries due to the recent Russian-Ukrainian crisis, the funds that were allocated to them should be used to hold exhibitions in African countries.
According to the newspaper report, Russian financial institutions are slow in the process of moving to Africa.
Therefore, the participation of the Chamber of Commerce and Industry of the Russian Federation is very important for promoting this idea and asking banks to provide financial support.