The Moscow Chamber of Commerce and Industry held an online Conference "Russia-Nigeria: prospects for trade and economic cooperation".
Opening the event, Mr. Suren Vardanyan, the MCCI’s Vice President, said: "Africa currently denotes a strategic economic direction. Recently, the Forum "Russia-Africa" was held in Sochi. It was distinguished by unique attendees and was conducted on the highest level of consequential negotiations.
We, as representatives of business circles of Moscow, are very much looking forward to a comprehensive continuation of this association.” According to the Chamber's Management Representative, Africa is not just a territory for the export of Russian goods; it is a region where industrial cooperation in the most diverse and varied segments of economy could yield good results.”
Professor Davis Ugba, the Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Nigeria to the Russian Federation, said that now the prospects for the development of economic relations between our countries are very positive - Nigeria’s leadership is prepared to strengthen multidimensional affiliation with Russia. He noted that Nigeria is the country with the largest economic base in Africa and that its population is approaching 400 million people.
Furthermore, analysts predict that the economy of this African country will grow by 7% annually until 2030, and by 2050 may enter the top ten largest economies of the world. However, as Mr. Ambassador said, the trade turnover between Russia and Nigeria is currently only $600 million, with a definite preponderance towards imports from Russia. "Nigeria can supply a large volume of goods to your country," said Mr. Ugba.
According to him, the Nigerian government is now adopting a number of measures, aimed to improve the business climate and increase investments in its economy. Nigeria's main interests are technology and the narrowing of its knowledge gap for local professionals. At the moment, collaboration is established with such companies as Gazprom, Lukoil and Uralkali. And the country's leadership is ready to establish close contacts with a wide range of Russian enterprises and companies.
Mr. Yaroslav Tarasyuk, the Representative of the Ministry of Industry and Trade, outlined a number of areas in which his agency sees prospects for cooperation. First of all, it involves the audit of industrial enterprises, which were built earlier. Primarily, the object of the focus is the metallurgical plant, which began to be built by Soviet means in the city of Ajaodkuta, but which has so far not reached its designed capacity.
It is also necessary to regulate the legal status of the Aluminum Smelter Co. of Nigeria (Alscon) plant, owned by Rusal as well. Since Nigeria has an abundance of diverse minerals, including gold, palladium, etc., it needs to develop its mining industry. Participants in the online Conference immediately proposed to convene a special meeting with Russian companies involved in this particular industry to present their capabilities. According to Mr. Tarasyuk, another important industry for cooperation is transportation, including purchases of rolling stock, airplanes, helicopters, as well as maintenance and pertinent security applications and systems.
The Representative of the Ministry of Industry and Trade also named such promising areas for cooperation as an industrial energy sector, mineral fertiliser supply and healthcare projects. As for the latter, Mr. Mikhail Natenzon, the Chairman of the Board of Directors of the National Telemedicine Agency, a participant of the event, introduced a unique cloud service, developed in Russia, which is currently the best in the world and offers assistance to doctors in making a decision. "In 0.8 seconds, doctors, who send an X-ray image of a patient, can get an answer about the presence of COVID, as well as recommendations on the next steps to be taken," said Mr. Natenzon. It is possible to connect the system within a short time.
The President of the Abuja Chamber of Commerce and Industry, Mr. Prince Adetokunbo Adeyinka Kayode, highlighted main areas in which cooperation between the two countries can develop fruitfully: agriculture, including the supply of equipment and technology for processing, packaging and transportation of agricultural products; the mining industry (technology, equipment and services are needed) and gas use. "At present, gas is a by-product, but we must learn to benefit from it," said the Head of the Chamber of Commerce and Industry of the Nigerian capital.
Mr. Valery Vozdvizhensky, the Executive Director of the Russian-Nigerian Business Council, spoke about its activities and said that the Business Council is ready to provide comprehensive support to companies tin order to enter the markets of Nigeria.
Mr. Konstantin Anastasiadi, the Chairman of the MCCI Commission on Foreign Economic Cooperation with partners in sub-Saharan Africa, noted that now the cooperation is carried out for the benefit of major companies. However, a large volume of entrepreneurs are not involved - these are small and medium-scale businesses.
Therefore, one of the main objectives of the MCCI is to establish cooperation between Russian enterprises and the African partners. Among the difficulties faced by Russian businesses in entering the Nigerian market, said the expert, are problems with financing: so far, no Russian bank has expressed a desire to participate in the promotion of business in the African market. According to representatives of the African side, they support the idea of interaction with Russian small and medium businesses, but need to be provided with details about such companies, their opportunities and prospects.
The Conference participants - and there were more than 100 - quickly responded to the information received during the event and began introducing their goods and services. Mr. Vardanyan suggested sending all proposals to the Moscow Chamber of Commerce and Industry, which will further promote the initiation of business contacts.