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Creating a New Economic System: Highlights from the Africa Russia Parliamentary Conference in Moscow

Gabriel Bello Obando by Gabriel Bello Obando
March 27, 2023
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The Africa Russia Parliamentary conference in Moscow has recently brought together representatives from almost all African countries. The central theme of the meeting was to create a continent free from neocolonialism and establish mutually beneficial economic relationships between Africa and Russia without any interference from the West.

The conference participants were keen on promoting a multipolar world where no single power could exert its monopoly over other nations. In line with this vision, President Putin pledged to collaborate with African partners and play a leading role in ensuring economic sovereignty for Africa. He promised to provide free fertilizers to African countries and reduce energy costs by supplying cheap fuel to support this pledge.

Moreover, the conference emphasized the need for a new economic system that does not rely on traditional tools like Visa, Swift, and Mastercard for economic sanctions. Using such tools has often caused significant damage to the economies of the affected nations, and the conference participants were keen to explore alternatives.

The Africa-Russia Parliamentary conference has served as a platform to showcase the potential for collaboration between African nations and Russia. With its abundant natural resources and growing population, Africa has been an attractive destination for foreign investment. However, the continent has also faced exploitation and economic subjugation, with foreign powers using their economic and political clout to control and manipulate African economies.

On the other hand, Russia has been looking to expand its influence in Africa, and the conference was an opportunity to present itself as a partner willing to work with African countries to build a new, more equitable economic system. The pledges made by President Putin demonstrate Russia’s willingness to take concrete steps toward this goal.

In conclusion, the Africa Russia Parliamentary conference held in Moscow was a significant step towards creating a new economic system that is more equitable and beneficial for African countries. The pledges made by President Putin to support African economic sovereignty, provide free fertilizers, and reduce energy costs are a positive indication of Russia’s commitment to working with African nations. With more such initiatives, it is hoped that Africa will move towards a future where it can utilize its resources and potential to the fullest extent without being subjected to neocolonialism or foreign interference.

The Africa-Russia Parliamentary conference was a platform for African countries to voice their concerns and aspirations for their economic development. Many African countries were interested in forging partnerships with Russia in various fields, such as agriculture, infrastructure, energy, and education.

For instance, the conference allowed Nigeria, Africa’s largest economy, to seek Russian support in diversifying its economy away from oil and promoting non-oil exports to Russia. Angola, another major oil-producing African country, sought Russian investment to boost its infrastructure development and enhance its agriculture sector.

The conference also highlighted the need for African countries to adopt innovative technologies to boost their economies. Russia has a long-standing history of technological advancements, and the participants explored ways African countries can benefit from Russian expertise.

Moreover, the conference was also an opportunity for African countries to showcase their investment potential to Russian investors. With Africa’s growing population and middle class, there are significant opportunities for investors in various sectors. The conference provided a platform for African countries to highlight the favorable investment climate in their respective countries and encourage Russian investors to explore new opportunities.

The Africa-Russia Parliamentary conference was an essential forum for African countries and Russia to explore ways to create a new economic system that benefits all parties involved. It was a platform for African countries to assert their economic sovereignty and to seek new partnerships and investments to drive their development. With the commitments made by Russia and the enthusiasm shown by African countries, it is hoped that the conference will catalyze a more equitable and prosperous future for the continent.

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