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Nassar participates in Sotchi Russia-Africa Summit
23 October 2019  -  Organization :  -  Sector/Entity :  -  Category : General

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Nassar has participated in a seminar on boosting industrial cooperation between Russia and Africa, and potential areas of cooperation.

Sotchi- Oct 23, 2019

Minister of Trade and Industry Amr Nassar participated today in a seminar entitled: “Collaboration in Industry: Potential Areas of Growth”, within the first Russia-Africa summit, held in the Russian Black Sea port city of Sochi on October 23-24.

The seminar discussed means to boost industrial cooperation between Russia and Africa and areas of cooperation of most interest to Russian businesses and African nations.

The minister said there is ample opportunity for expansion in establishing Russian special economic zones (SEZs) in African countries, noting that it would attract foreign investments to the continent, integrate local firms into global value chains, promote export-oriented growth and create jobs.

 “Such expansion would unlock Africa’s commercial potential regionally and globally,” he added.

In this respect, the minister cited the Russian Industrial Zone (RIZ) to be built in the axis of the Suez Canal, which he said is “the best gateway for Russian investments into the African market.”

Moreover, he called for benefiting from Africa’s huge natural resources, through joint African-Russian industrial ventures that would cater for the continent's needs and export to regional and international markets.

 

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