MOSCOW, October 29. /TASS/. The Russian business community rejects colonial practices and conducts business with African partners in a respectful manner, investing in their countries, Russian President Vladimir Putin said at the Russia-Africa summit.
"Our business community always approaches cooperation with African partners with honesty, respect, and good faith, conducting business on equal terms," he emphasized, addressing the participants of the summit. "Rather than siphoning off profits in the spirit of the colonial practices of former imperial powers, they invest what they earn in the development of your countries’ economies, eagerly share advanced technologies and expertise, and extensively engage local subcontractors, creating new production facilities and jobs," Putin added.
"Many Russian companies have long been successfully implementing large-scale investment projects in Africa. This refers to sectors including energy and the peaceful use of nuclear power, mining and mineral extraction, industrial cooperation, logistics, and tourism," he noted.
"These are not just empty words. I am saying this with full responsibility. Many of the colleagues present here know this: when major projects are carried out, local contracting firms are brought in," the Russian leader said.