Russia’s Ministry of Economic Development has announced plans to conclude an intergovernmental agreement on investment protection with Morocco, as part of Moscow’s broader strategy to expand its economic footprint across the African continent.
Pavel Kalmychek, Director of the Department for Bilateral Cooperation Development at the Russian Ministry of Economic Development, said the agreement is being prepared within the framework of deepening economic ties with Africa. He made the announcement during the second “Inventing the Future” international symposium, dedicated to exploring new avenues for Russia–Africa cooperation.
According to Kalmychek, six similar agreements have already been signed, while another six are currently in progress — including with Morocco, Congo, Mali, Nigeria, Tanzania and Burkina Faso. These accords aim to ensure the legal security of Russian investments and foster a climate of confidence conducive to expanding bilateral trade and cooperation.
The Russian official highlighted Morocco’s strategic position within Africa’s economic landscape, citing the strength of its infrastructure, political stability and diversified industrial base. The proposed agreement, he said, would pave the way for concrete partnerships in several sectors where Russia holds recognised expertise — notably energy, geology, modern agriculture, digital technologies and mechanical industries.
Kalmychek underscored Moscow’s intention to promote balanced partnerships based on skill transfer, local industrialisation and joint participation in major development projects. He noted that Rabat is among Russia’s priority partners on the continent, with which it seeks to build lasting economic relations grounded in complementarity and mutual trust.
He further recalled Russia’s ambition to double its trade volume with Africa by 2030, emphasising that the continent represents “one of the most dynamic poles of global growth.” Moscow, he added, aims to diversify its export structure — still largely dominated by energy and agricultural products — to include industrial goods, transport equipment and advanced technologies.
Kalmychek also stressed the importance of improving logistics infrastructure and payment systems to facilitate trade and support investment growth.
This approach, he noted, aligns with the Russia–Africa economic cooperation initiatives launched during the Russia–Africa forums and the 2023 St. Petersburg Summit, where Moscow reaffirmed its ambition to establish itself as a major geo-economic player on the continent.
MK/lb/as/APA