Browsing: Moscow

  • The Maghreb region, with an estimated population of over 100 million people, has been an interesting geographical region for key global players
  • The North African countries have considerably developed their relations with Russia, as they did before with China
  • Algeria, Libya, Mauritania, Morocco, and Tunisia established the Arab Maghreb Union in 1989

The Maghreb region, with an estimated population of over 100 million people, has been an interesting geographical region for key global players due to its tremendous untapped natural resources.

Algeria, Libya, Mauritania, Morocco, and Tunisia established the Arab Maghreb Union in 1989 to promote cooperation and economic integration. The union included Western Sahara implicitly under Morocco’s membership and ended Morocco’s long cold war with Algeria over this territory. However, this progress was short-lived, and the union is now dormant.

However, the region is an important gateway to Europe and to sub-Saharan Africa. Europe particularly has some investment, so …

  • Russian authorities are gearing up to hold the second African leaders’ summit in St. Petersburg scheduled for early November 2022.
  • The St. Petersburg meeting will focus on enhancing further constructive cooperation and advancing integration processes.
  • Foreign ministers of Russia and three African countries—the current, future and previous chairpersons of the African Union—will meet for annual consultations.

With high optimism and a desire to strengthen its geopolitical influence, Russian authorities are gearing up to hold the second African leaders’ summit in St. Petersburg scheduled for early November 2022.

The gathering, as expected, will focus on enhancing further constructive cooperation and advancing integration processes within the framework of the African Union and a number of sub-regional structures.

In their first joint declaration, emerging from the Russia-Africa summit, at the initiative of African participants a new dialogue mechanism—the Russia-Africa Partnership Forum—was created.

Read: Russia extending its sphere of influence in Africa’s Sahel

Africa’s output grew by 3.4 per cent between 2017 and 2018 despite the slowdown in global growth during that period.

A new report by the African Export-Import Bank (Afreximbank) shows that Africa’s total merchandise trade in 2018 had a value of over USD997.9 billion.

On the same note, the continent remained one of the fastest growing regions in the world during that time.

The African Trade Report 2019: African Trade in a Digital World was launched in Moscow last week during the 26th Afreximbank Annual Meetings.

Trade wars and tariffs between the United States, China

Global merchandise trade grew by 3 per cent in 2018, down from 4.6 per cent in 2017 according to the World Trade Organisation (WTO) estimates.

According to The African Trade Report 2019, the findings highlight the resilience of Africa’s economies to global volatility at a time of rising uncertainty, escalating trade wars and tariffs between …