Russian President Vladimir Putin has signed a decree to establish a committee that will be in charge of preparation and holding of the Russia-Africa summit in Sochi, this year.
It named an Aide to the President, Yury Ushakov, as Chairman of the Organizing Committee.
A regulation on the Organizing Committee has been approved and the members to coordinate preparations for events, to resolve issues concerning collaboration with Russian regions and departments as well as provide information and organizational support would be determined and approved within a month.
The summit is expected to be attended by African Heads of State and representatives of Russian, African, and international businesses, government agencies and associations.
This first Russia-Africa summit would enhance mutual ties, reshape diplomatic relationship and significantly to roll-out ways to increase effectiveness of cooperation.
Russia has traditionally prioritized developing relations with Africa.
Trade and economic relations as well as investment projects with the countries of the African continent offer enormous potential.
Major Russian businesses view Africa as a promising place for investment. The energy and mining sectors along with agriculture, manufacturing, transport, and infrastructure are the greatest attractions.
This year, it has planned to hold a preliminary Russia-Africa Business Dialogue as part of the St. Petersburg International Economic Forum (SPIEF) on June 6–8, and that would be followed by the annual meeting of African Export-Import Bank shareholders.
Russia, represented by Russian Export Center, became a shareholder since December 2017. The African Export-Import Bank and the Russian Export Center along with SPIEF would lay the foundation for continuing the dialogue between countries at a high level as part of major business events.
The idea to hold a Russia-Africa forum was initiated by President Putin at the BRICS (Brazil, Russia, India, China and South Africa) summit in Johannesburg in July 2018.