Story by Memory Chamisa
ZIMBABWE and Russia are seeking to deepen economic cooperation following discussions held on the sidelines of the 29th St Petersburg International Economic Forum (SPIEF), which concluded on Saturday after deliberations on emerging models for global economic growth.
The annual forum, which began on Wednesday, brought together policymakers, business leaders and investors from across the world against the backdrop of significant shifts in the global economy.
A key feature of this year’s event was the Russia-Africa Business Dialogue, established in 2016 to promote economic cooperation between Russia and African countries.
Speaking on the sidelines of the forum, Minister of Women Affairs, Community, Small and Medium Enterprises Development, Senator Monica Mutsvangwa said Africa is increasingly emerging as a major force in the global economy and Zimbabwe must position itself to take advantage of new opportunities.
“The global economic centre of gravity is shifting, and Africa is increasingly being positioned as one of its biggest beneficiaries, hence Zimbabwe has to position itself as a major contributor.
For a decade since its creation, this platform has practically discussed most pertinent roadblocks, highlighted the economic sectors, and outlined the future prospects. The significant issues have also been treated at the first and second Russia-Africa summits, which we have attended through the leadership of our President, Dr Mnangagwa.
Africa’s growing population, expanding middle class, and AfCFTA position the continent as a future engine of global growth. Of note is how emerging economies are increasingly shaping global trade, investment, technology, and development agendas, and as Zimbabwe, we have proved ourselves time and time again, looking at the country’s GDP growth and not forgetting how SMEs have contributed to that growth.”
