Archives Economic cooperation - Page 50 of 54 - New Eastern Outlook

In 2019, well before the start of Russia’s military operation in Ukraine, the Russia-Africa summit held in Sochi attracted 43 countries in total. The purpose of the summit was the “development and consolidation of mutually beneficial ties” between Russia and the African continent. Four years later, the 2023 summit held in St. Petersburg attracted 49 countries in total, with the summit ending with a 74-point-long joint declaration pledging cooperation across a large number of critical areas. As is evident, the ongoing Russia-Ukraine (NATO) military conflict – and the West’s persistent attempts at ‘isolating’ Russia – has failed to make Russia…

The second Russia-Africa Summit and Russia-Africa Economic and Humanitarian Forum which will take place on July 27–28, 2023, are widely regarded as the most important and ambitious events in the history of Russian-African relations. These forums are aimed at reaching a brand new level of mutually beneficial cooperation and meeting the challenges of the twenty-first century. The event’s objective is to strengthen Russia’s comprehensive and balanced partnership with African nations in all aspects, including politics, security, economy, and the scientific, technical, cultural, and humanitarian fields…

Termed Saudi’s “new oil” industry, tourism ranks very high on Riyadh’s Vision 2030 strategic plan for the country’s economic transformation away from reliance on oil as the major source of revenue. According to the plan, the Saudis aim to raise about US$46 billion annually from tourism by the end of this decade, i.e., by 2030. Saudi’s goal and China’s contribution to world tourism seem to have a perfect synergy. Before Covid, 155 million Chinese tourists spent US$250 billion world-wide. With Saudi Arabia looking to attract tourism, China becomes a natural partner…