Russia signs agreement with Egypt to facilitate aviation business

As part of efforts to expand trade and business to Africa, the Russian Export Centre (REC) had signed an agreement with the African Export-Import Bank (Afreximbank) in Cairo, Egypt  to facilitate Russia’s Aviation Industry’s further  penetration into the Continent.

President of Afreximbank, Mr Benedict Oramah, thanked the Russian Export Centre for joining the shareholders of the Bank and expressed confidence that this would serve as the basis for building long-term mutually beneficial relations.

Within the framework of the deal, which closed in December 2017, Anna Belyaeva, the Managing Director for International Development, REC, and Rene Awambeng, the Director of Global Customer Services, signed a letter of intent to organise a business mission of Russian Aviation Industry enterprises to Africa.

The business mission is planned for April, this year, with visits to countries such as Kenya (Nairobi), Uganda (Kampala) and Nigeria (Lagos and Abuja).

In accordance with the agreement, leading Russian enterprises in the field of civil aircraft and helicopter construction, as well as manufacturers of air traffic control equipment, will organise meetings with relevant ministries and departments, local airlines and financial institutions to promote the Russian Aviation Industry products on the African market.

The Afreximbank was founded in 1993 in Abuja (Nigeria) with authorised capital of five billion dollars.

The main objective of the bank is to develop and promote trade between African countries and outside the Continent.

Headquartered in Cairo, it has regional offices in Côte d’Ivoire, Nigeria, Kenya and Zimbabwe.

Source: GNA