African countries and the integration associations of the continent may soon become foreign trade partners of the Eurasian Economic Union (EAEU), said on Wednesday State Duma Speaker Vyacheslav Volodin.
According to him, a memorandum of cooperation between the Eurasian Economic Commission and the African Union is being prepared for signing, TASS reported.

The speaker drew attention to the fact that integration projects of the African Union and the Southern African Development Community are now being implemented, a continental free trade zone is being formed, and conditions are being created for dynamic and sustainable development within the framework of the 2063 agenda.

General business projects

The Speaker of the State Duma also said that the parliamentarians of Russia and Africa should facilitate the establishment of contacts between the business of the two countries, as well as work on the convergence of legislation in the field of investment.

He noted that in 2018, trade with the African continent increased by 17.2% compared with 2017 and amounted to $ 20.4 billion.