The issues of expanding mutual cooperation, increasing the volume of trade, establishing an integrative dialogue between regional associations and identifying points of potential trade partnership became key during the meeting "EAEU-Africa: horizons of cooperation" held within the framework of the second economic and humanitarian forum "Russia-Africa" in St. Petersburg, DKNews.kz reports.

Minister for Integration and Macroeconomics of the Eurasian Economic Commission Sergey Glazyev noted significant progress in cooperation between the Eurasian Economic Union and African countries after the first Russia-Africa Forum in 2019.

He identified agriculture and infrastructure, mutual trade and investment, integration of information systems, cooperation in technical regulation, veterinary and phytosanitary control and business development as priority areas of cooperation.

"The combined capacity of the EAEU to produce staple foods and mineral fertilisers can actually provide the resources to feed almost one billion people," noted Sergey Glazyev.

The ETE Minister also drew the attention of his African colleagues to the Commission's successes in implementing integration projects and expressed readiness to share experiences in implementing the UN Sustainable Development Goals. He also stated that the integration experience of African sub-regional associations is of interest to the Eurasian region.

"In terms of substantive work, it could be interesting to exchange best integration practices," said Sergey Glazyev. - We are able to operationally increase the level of understanding of the conditions of functioning of the EAEU single market, especially in terms of technical regulation, specifics of the application of sanitary and phytosanitary measures."

Elaborating on the exchange of integration best practices, the EAEU Minister highlighted that Africa is ahead of many countries in the use of digital solutions, especially in the financial sector, which can be of practical importance for the development of integration within the EAEU.

The EEC Minister also stated that it is important to have a dialogue with the African Union and to further develop the legal framework for interaction between the two associations by extending the Memorandum of Understanding, establishing practical activities and sharing best integration practices.

Dmitry Volvakh, Deputy Minister of Economic Development of the Russian Federation, noted the growth of bilateral trade, the volume of which increased by 60 % to USD 19 billion from 2015 to 2022, of which EAEU countries' exports increased by 74 % and imports by 15.5 %. Dmitry Volvakh believes that the key task is to identify the untapped potential of trade and economic cooperation and develop mechanisms for its implementation. He also noted the growing interest of African countries in the Eurasian integration agenda and spoke about the prospects of EAEU interaction with countries and international organizations and associations of the continent through institutionalization of cooperation and conclusion of memoranda between the EEC and key regional international associations of the African continent.

Marie Therese Chantal Mfula Ejomo, Commissioner for Territorial Development and Infrastructure of the Economic Community of Central African States (ECCAS) Commission, spoke about the Community's activities and identified as promising areas for the development of the integration agenda between the ECC and the ECCAS Commission, such as the formalisation of direct dialogue with the Commission and the exchange of best practices in the form of seminars. She highlighted progress in the implementation of the climate agenda and green economy projects and shared plans to improve the business environment in the region and called for more active investment in the economies of ECCAS member countries.

The Director of the Partnership Development and Resource Mobilization Division of the African Union (AU) Commission, Steve Patrick Lalande, stressed that the number of working issues between the ECA and the AU Commission is growing and called for joint forums, retreats, seminars to enhance the exchange of positive integration experiences in the areas of regulation, attracting investment, informing the business community, stimulating SMEs and training development.
The President of the Russian Union of Industrialists and Entrepreneurs, Alexander Shokhin, praised the trade index between the Eurasian Economic Union and the African region and proposed to more actively develop the logistics base on the continent to ensure the growth of mutual trade between the EAEU and African countries. He also looked at the prospects for cooperation between the EAEU Business Council and the business communities of African countries.

The event was moderated by Oleg Ozerov, Ambassador-at-Large and Head of the Secretariat of the Russian-African Economic and Humanitarian Forum.

The Economic Community of Central African States (ECCAS) was established in 1983. This integration association includes Angola, Burundi, Cameroon, Cameroon, the Republic of Congo, Gabon, the Democratic Republic of Congo, Rwanda, Sao Tome and Principe, the Central African Republic, Chad and Equatorial Guinea. The stated aim of the organisation is to develop integration processes between member countries, to promote their comprehensive deepening on the basis of their own economic strengths and to work towards the creation of a common market. ECCAS is also involved in strengthening peace and stability, combating terrorism and piracy and supporting electoral processes within the Community.

The African Union (AU) was established in 2002. The AU's stated objectives include the protection of the sovereignty, territorial integrity and independence of its member states, the strengthening of peace, security and stability, the acceleration of political and socio-economic integration on the continent, the promotion of democratic principles and institutions, the promotion of coordinated action by African countries on the world stage, and the creation of the necessary conditions to ensure Africa's dignified role in the global economy.

In 2021, EAEU foreign trade turnover with African countries will increase by 21.9 % (to $18.9 billion), exports by 24 % (to $15.4 billion) and imports by 13.7 % (to $3.5 billion).

The Memorandum of Understanding between the Eurasian Economic Commission and the African Union Commission was signed on 24 October 2019 on the sidelines of the Russia-Africa Summit in Sochi.

(Kazpress/JaV)