ST. PETERSBURG, July 28. /TASS/. The participants of the Russia-Africa summit agreed to strengthen economic cooperation between Russia and African states, according to the final declaration adopted at the end of the second Russia-Africa summit.

Thus, the parties agreed to "Encourage further strengthening of trade, economic, and investment cooperation between the Russian Federation and African States. Foster the economic, trade and investment partnership between the Russian Federation and the African Union, as well as the leading African regional organizations - the Arab Maghreb Union, the Southern African Development Community, the Common Market for Eastern and Southern Africa, the East African Community, the Economic Community of West African States, the Economic Community of Central African States, and the Intergovernmental Authority on Development."

In addition, the parties also "welcome the operationalization of the African Continental Free Trade Area in order to enhance the market integration, industrialization and economic development of the African continent by facilitating technology transfer and encouraging investment. In this regard facilitate further cooperation between the Russian Federation and Africa in attracting investment, promoting the development of value chains and boosting mutual capacity to produce and export value added manufactured products."

The second Russia-Africa Summit was held at St. Petersburg’s Expoforum on July 27-28, in parallel with economic and humanitarian forums. Similar to the first such summit in 2019, the event is being held under the rubric "For Peace, Security and Development." The event is being organized by the Roscongress Foundation. TASS is the event’s official information partner and photo-hosting agency.