OREANDA-NEWS. November 19, 2012. A Russian-Congolese business forum has been held at the CCI of Russia on the sidelines of the official visit of President of the Republic of Congo Denis Sassou Nguesso.

CCI of Russia Vice-President Georgy Petrov said in his greetings that the Republic of Congo was an important and promising partner of Russia in Africa. He expressed the assuredness that the visit of the President of the Republic of Congo to Russia and his participation in the business forum was a significant incentive for bilateral trade and economic cooperation. He stressed that the participation of the President of the Republic of Congo in the business forum would have the most favorable influence on business cooperation prospects.

Georgy Petrov said that the Coordination Council for Economic Cooperation with African States south of Sahara formed by the Chamber’s initiative had been working since 2009. A task of the Committee is to assist in Russia’s regaining of the position in Africa which it lost in the 1990s.

The CCI of Russia successfully accomplished two business missions to the Republic of Congo in 2010 and 2011 with the assistance of the Committee, the Russian Embassy in the Republic of Congo and the Congolese Embassy in Russia. A cooperation agreement between CCIs of the two countries and a final protocol of the business forum in Pointe-Noire were signed during the missions. In the opinion of Georgy Petrov, cooperation in the oil and gas sector, processing industries, delivery of Russian machinery and equipment to Congo and development of a network of service centers would be promising.

Russian Presidential Representative for Cooperation with Africa, Chairman of the International Affairs Committee of the Federal Assembly’s Federation Council Mikhail Margelov and Head of the Center for Russian-African Relations Studies and External Policy at the Russian Academy of Sciences’ Institute for African Studies Yevgeny Korendyasov welcomed the President.

Yevgeny Korendyasov noted that a lag in Russian-African political, economic and cultural relations had not been done away with but a positive trend had emerged. New time requires new approaches. Russia is returning to Africa: that is needed both by this country and by its African partners.

Mikhail Margelov is confident that this meeting will add new deeds to the “African dossier”: not only Russia is returning to Africa but also Africa is returning to Russia. This is a two-way process, which is based on common economic interests in contrast with the Cold War epoch. The cooperation potential is enormous. Geo-economics is supplanting geo-politics, and this forum is a step in the right direction, Mikhail Margelov said.

President of the Republic of Congo Denis Sassou Nguesso urged Russian businessmen to invest in his country. He gave a brief description of the Republic of Congo and its economy. A large business delegation is accompanying him on the visit to Moscow, so Russian businessmen have prospective partners.

The economic climate in the Republic of Congo is favorable for investments, Denis Sassou Nguesso said. Congolese economy has lately displayed sustainable growth, approximately 6% per annum. The most profitable exports are crude and timber. The country also develops agriculture, fisheries, transport, construction and energy sectors.

The Republic of Congo is an advocate and a promoter of green economy. The mining industry is developing: the Republic of Congo has iron ore deposits; it mines gold and diamonds and has silver, zinc and manganese resources. Every economic sector is open to investments. It is planned to form four free economic zones, which will bring new investors to the country.

The President said that the national administration had been tirelessly working on a favorable business climate: every branch of the national economy developed by relevant laws and the Investment Code took into account the interests of foreign investors. Denis Sassou Nguesso invited Russian investors to the Republic of Congo for studying business opportunities on site.

Representatives of Russian companies – JSC Pipeline Metallurgical Company Foreign Economic Policy Department Director Alexander Gryzunov, JSC RNII Agropribor Chief Designer Oleg Bogatyrev and others – spoke at the business forum.

The President of the Republic of Congo answered questions of the audience at a special session.

In conclusion of the business forum Russian and Congolese businessmen discussed issues of mutual interest.