The Russian Export Center (REC), with support from the Ministry of Industry and Trade of the Russian Federation, will conduct a business mission for Russian export-oriented companies to the Arab Republic of Egypt (Cairo), to participate in one of the largest exhibitions in the African continent – The Intra-African Trade Fair 2018.
The key goal of the business mission to Egypt is to facilitate bilateral trade and economic cooperation and to promote export-oriented Russian manufacturers’ products in Egypt and possibly further into African markets.
The Intra-African Trade Fair 2018 aims at seeking greater regional business partnerships through investments and cross-border collaborations. Egypt plays host to this largest exhibition by bringing the continent’s leading business people and getting them to co-invest which will generate more economic activity between the regions and greater regional integration.
On December 11, the Russian business delegation will take part in The Intra–African Trade Fair 2018 opening ceremony, which will be attended by heads of state and high-ranking officials from more than 20 African countries.
According to the media release, the business agenda includes a panel session titled “Russia-Africa. Partnership and Strategic Cooperation in Trade and Economic Relations” and a workshop “African Market: Specifics and Opportunities” at the Intra–African Trade Fair.
The panel discussion will feature a presentation of the Russian Production Zone (RPZ) project – a comprehensive production cluster located in the Suez Canal Economic Zone, which expands the capabilities of Russian exporters and vendors willing to localize their assembly and production facilities in immediate vicinity to the Middle East and African markets.
“Project implementation will take several decades, but the first output of the localized production facilities may be shipped to regional consumers as early as 2024,” General Director of Russian Export Center, Andrey Slepnev, comments. “A key framework inter-governmental agreement has been signed this year, pushing forward the RPZ project, and a development contract is currently in the works, while REC and its partners are consolidating the pool of prospective residents and investors into the production zone.”
The Russia-Egypt business discussions and negotiations will be attended by Vasily Osmakov, Deputy Minister of Industry and Trade of the Russian Federation, Anna Belyaeva, Managing Director for International Development of the Russian Export Center, Ilya Pomigalov, Director for Special Projects of the Russian Export Center.
Other participants are Ahmed El Wakil, President of the Federation of Egyptian Chambers of Commerce and the Union of African Chambers of Commerce, Sahar Talaat Mustafa, President of the Egyptian part of the Russia-Egypt Business Council, Admiral Abd El Kader Darwish, Vice Chairman, General Authority for the Suez Canal Economic Zone, Hisham El Naggar, Managing Director Daltex.
Representatives of the Ministry of Trade and Industry of the Arab Republic of Egypt, General Organization for Export and Import Control (GOEIC) of the Arab Republic of Egypt and Federation of Egyptian Industries (FEI) will also be present.
The event participants (representatives of more than 30 Russian companies in the
Experts say such moves are encouraging for Africa and Russia especially when Africa needs to build its infrastructure, modernized agriculture and industry as well as develop corporate business partnerships.
“There are many Russian industry leaders and business people with solid prospects for trade activities and seek to establish sustainable investment cooperation with Africa. Significant corporate events, such as the Intra-African Trade Fair, are windows of new opportunities for the development of business contacts and possible partnership especially for export-oriented companies looking to enter the African market,” Kelvin Dewey Stubborn, South African based Senior Analyst on BRICS and African policy,told The Exchange.
According to Stubborn, what Africa is looking for are foreign investment, development in infrastructure and modernizing agriculture, many sectors that generate more employment places for the youth. In all these, Russia has to focus on the consistent exchange of experiences in these sectors as they are of considerable interest for Africans.
He further underscored the fact that through trade exhibitions and fairs, Russian industry leaders can develop corporate industrial projects (such as the production of agricultural machinery) that would accelerate the economic development and to participate in the implementation in chosen African countries. Russian Export Center JSC is part of VEB Group. As a state institution for support of non-resource exports, REC supports Russian exporters with a wide range of financial and non-financial activities. REC is a shareholder in the Russian Agency for Export Loan and Investment Insurance (EXAR JSC) and ROSEXIMBANK JSC, which enables it to optimize the resource usage and create efficient business processes for the provision of comprehensive services to export-oriented companies.