The Eurasian Peoples' Assembly played a Key Role in Signing an Agreement to increase Trade Turnover between Russia and Africa

23/10/2023 18:31

The headquarters of the Eurasian Peoples’ Assembly hosted a signing of a strategic co-operation agreement: the NOUVELLE ALLIANCE CONSTRUCTIONS SARL from Benin and the Russian LLC Eurasian Investment Company became partners.

The parties came to an agreement to create a hub for Russian producers of rolled metal products, agricultural products, fertilizers, construction materials and other products in the Republic of Benin.

This is the first agreement aimed at increasing trade turnover between Russia and Africa, in which the Eurasian Peoples’ Assembly plays a key role in launching the project. According to Alexander Ivanov, Head of the Eurasian Investment Company and Co-Chairman of the Council for International Activities of the Eurasian Peoples’ Assembly, this agreement is a very important stage in the development of business relations between Russia and African states.

"Our agreement allows the Russian Federation to scale its activities in the north of the African continent. Benin has a good port infrastructure. We have already worked out the tools of interaction within the agreement - banking, mutual settlements," -said the Head of Eurasian Investment Company LLC. "Our partners have solid experience in the Benin market. The company is engaged in production of agricultural products, agricultural machinery, educational projects. It works with three largest banks of the world - CBAO BANK, ECOBANK, NSIA BANK. Our partners have a credit line of 300 million dollars. This speaks volumes.”

Another important advantage of the new agreement for its implementation is the agreement between NOUVELLE ALLIANCE CONSTRUCTIONS SARL and the Government of Benin on the creation of a duty-free zone on the land it owns.