«AFRICAN BUSINESS INITIATIVE» - A PRACTICAL STEP TOWARDS ACTIVE COOPERATION OF RUSSIA AND AFRICA by I.O.Abramova, Dr.Sc. (Economics) and L.L.Fituni, Dr.Sc. (Economics), Institute for African Studies, Russian Academy of sciences (RAS)
Keywords: Africa, Russia, Cooperation, African Business Initiative
The article is dedicated to the establishment of the African Business Initiative (ABI) by the Institute for African Studies in collaboration with the Ministry of Foreign Affairs of the Russian Federation, represented by the Deputy Foreign Minister M.Bogdanov, members of the African diplomatic corps, the international law firm «SQUIRE Patton Boggs». The working Group of ABI includes also Russian companies which are already present on the African continent, or are planning to start their activities in Africa.
The main objective of the initiative is to develop such a strategy of Russian business cooperation with African partners, which will take into account the features of national legislation, economic potential, socio-cultural values and traditions. The Initiative involves the application of legal, regulatory and policy standards and best practices of international projects.