The first Russia-Africa Business Forum, envisioned as a starting point of new stage in economic cooperation kicked off Friday in Addis Ababa.

Speaking on the occasion, Prime Minister Meles Zenawi expressed belief that the Forum will overtime become a vital option for the re-emerging partnership between Russia and Africa. Russia is now a huge market that provides enticing opportunities for African exports, Meles said. It also produces many goods that Africa needs.

He said Africa can massively increase and enhance its trade relations through direct business contacts and government support. Africa welcomes back Russian economic engagement with an open heart, he assured members of the Russian delegation on the forum.

Special representative of the President of the Russian Federation for Cooperation with African Countries, Mikhail Margelov for his part said the growing interest of Russian business in Africa has brought cooperation with the continent to the foreground. Having started with almost exclusively mining operations, today Russians are examining investments into other areas, he said.

According to the representative, a regular dialogue between the representatives of the business community and state authorities is important for the development of far reaching economic ties between Africa and Russia. Participants of the daylong Forum were expected to discuss the feasibility and agenda of holding such meetings on a regular basis.

Russian Prime Minister Vladimir Putin in a message through his representative said relations between Africa and Russia have been growing. The two parties are reported to have enjoyed trade-exchanges amounting to 2.7 billion dollars during this concluding year. The amount exceeds that of last year by two-folds.

Investment opportunities of Ethiopia, Mali, Sudan, Botswana, Niger, Zimbabwe and Ghana were tabled for discussion to the day-long forum.

Currently, 37 Russian companies with a combined capital of 1.8 billion Birr are operating in Ethiopia, it was indicated. Trade exchange between the two sides has reached 86 million dollars. Spokesperson of the ministry of foreign affairs, Dina Mufti told Ethiopian Radio and Television Agency that the forum is a manifestation of the growing relations of the two parties.

Meanwhile, special representative of the President of the Russian Federation for Cooperation with African Countries, Mikhail Margelov delivered a message sent from Prime Minister Vladimir Putin to Prime Minister Meles Zenawi on Friday.

ETV