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Vladimir Putin, the President of Russia, has unveiled his plan to establish a free trade zone involving four North African nations: Egypt, Morocco, Tunisia, and Algeria. This strategic move is designed to bolster Moscow’s diplomatic and economic influence across the continent.
Quoting Putin, the official Russian news agency TASS reported that the intention is to translate the existing political trust into economic cooperation. Putin emphasized the friendly relationship between Russia and African nations, stating that Russia is viewed as a friend by North African countries.
The Kremlin has confirmed that discussions regarding a free trade agreement are already underway between member states of the Eurasian Economic Union (EAEU) and the aforementioned North African nations.
Several North African countries have demonstrated a willingness to enhance economic ties with Russia. Morocco’s Prime Minister, Aziz Akhannouch, welcomed Russia’s determination to strengthen friendly relations and cooperation with African nations. Algeria, in June, reached an agreement to support Russian gas companies in establishing a stronger presence in its market.
Despite some tensions arising from Russia’s blockade of Ukrainian grain exports, the effort to boost economic cooperation between Cairo and Moscow is not expected to be significantly impacted. This development comes shortly after the Russia-Africa Summit in St Petersburg, which aimed to forge mutually beneficial partnerships between Russia and Africa.
Dr. Kaiser Naseem, a former World Bank official with experience in both Cairo and Moscow, emphasizes the long-standing relationships between Russia and African countries, originating from the Soviet era. He highlights the current significance of these relations due to Africa’s economic potential and mineral wealth. Naseem suggests that the proposed free trade zone with North Africa is Putin’s strategic move to forge closer ties and reap long-term economic benefits, similar to strategies employed by China and the United States.
In the aftermath of the St Petersburg summit, the race to establish connections with the African continent appears to have intensified.
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