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One of the main events of the Russia-Africa Economic Forum will be a session entitled; “The Eurasian Economic Union and Africa: Trends and Opportunities to Develop Integrated Processes and Collaborate”, which is dedicated to promoting best practice exchange between countries and developing mutually beneficial cooperation.

The session is due to take place on October 23 as part of the business programme pillar entitled “Forging Economic Ties”.

Among the participants in the discussion will be Chairman of the Board of the Eurasian Economic Commission Tigran Sargsyan; President of the Chamber of Commerce and Industry of the Russian Federation Sergey Katyrin; secretary for Foreign Affairs at the Ministry of Foreign Affairs, Regional Integration and International Trade of the Republic of Mauritius Usha Chandnee Dwarka-Canabady and secretary-general of the East African Community Libérat Mfumukeko.

Over the last few decades, processes of economic integration have become a mega-trend for the development of regions across the world, helping their member states to successfully integrate into the global economy and minimise risks arising from crises in different economic sectors.

The Eurasian Economic Union and African countries have accumulated a wealth of skills.

Effective dialogue and best practice exchange can help optimise processes of economic integration and form a basis for cooperation across a whole spectrum of issues.

Experience solving migration issues and problems of both employment and the digitalisation of society presents an opportunity to find common ground and ensure synergy in these spheres, as well as in a range of other spheres.

“The African Union is a large market which is undergoing active development,” said Sargysan.

“Its rate of growth is testament to the fact that the continent is becoming a serious economic player in the global arena.

“And today is the right time to find niches where joint comparative advantages can be implemented.

“We are taking the first steps toward institutionalising relations with the African Union. Using the platform of the Sochi Summit, a memorandum of cooperation will be signed between the Eurasian Economic Commission and the African Union.

“As for the development of cooperation with African countries, we are taking an active lead in negotiations to conclude a free-trade agreement between the Eurasian Economic Union and Egypt, a country which is currently chairing the African Union.” —  summitafrica.ru/en.