L. Fituni, I. Abramova Resource Potential of Africa and Russia's ...

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– Automotive and components – Capital equipment and machinery – Agro-processing. In an effort to advance the economic relationship and support cooperation in these areas, Russia and RSA aim to strengthen and deepen economic linkages through strong business and governmental co-operation between the two countries. In this regard one of the main vehicles used is the Intergovernmental Committee on Trade and Economic Co-operation, known as (ITEC). Participating government departments include Minerals and Energy, Science and Technology, Trade and Industry, Health, Education, Transport, Agriculture, Defence and Water Affairs. The Committee is chaired by the Minister of Foreign Affairs on the South African side, and the Minister of Natural resources from the Russian side. Meetings of this committee are held annually and interchangeably in the capitals of both countries. Within the trade component the Department of Trade and Industry participates in the Trade, Investment and Banking subcommittee together with the South African Reserve Bank. In essence the aim of the Trade, Investment and Banking subcommittee is to create an environment that would support increased and mutually beneficial trade and investment, through facilitating government and business linkages and identifying barriers to trade. During the Fifth Session of ITEC, held in October 2005, several important initiatives were undertaken in an effort to achieve these goals. Both sides noted the importance of expanding the value of trade as well as the range of traded products. In support of this, the two sides agreed to encourage the exchange of business delegations with the purpose of holding trade and investment fairs in both countries. More specifically, South Africa undertook to lead a business delegation and hold a trade and investment fair in Russia in 2006 as a way of raising the profile of South Africa-Russia business interactions. The focus of the fair will be to promote trade and investment co-operation in value added manufacturing and services sectors. 43 The Department of Trade and Industry of the Republic of South Africa and its Russian counterpart further agreed to develop a program of co-operation in the automotive sector in an effort to enhance 195
sectoral co-operation. In the financial sector, growing co-operation between Russian and South African financial institutions in a number of areas, including joint projects in third countries is intensifying. As part of this process inter-banking consultations were held in April 2005 in South Africa, which included presentations from Russian banks. South Africa's Standard Bank, Africa's largest bank by assets, took over a 33 percent stake in Russian investment bank Troika Dialog, the most established and largest independent investment bank in Russia, in an asset swap and cash deal. The transaction marked the first major foreign investment in the Russian financial sector since the start of the global economic crisis in 2008. The deal initially comprised a US$200 million convertible loan extended by Standard Bank's International Operations to the Troika Dialog Group. Standard Bank also gave a 100 percent stake in its Russian subsidiary commercial bank (ZAO Standard Bank) and all of its Russian business to Troika. "The combined operation will have a capital base in excess of $850 million and will be strongly positioned to compete in the Russian financial services sector and to pursue banking consolidation opportunities in Russia," Standard Bank said. 44 The transaction was approved by the Central Bank of the Russian Federation, the Russian antitrust authorities and the South African Registrar of Banks. Standard Bank said the investment was aligned with its strategy to expand its international networks and capabilities and, where appropriate, find the right partners to support the expansion of these networks. "This transaction enables Standard Bank to have an enhanced access to this large emerging economy, along with a close alliance with a leading Russian company," the statement said. 45 The 5th meeting of ITEC also offered an opportunity for the signing of an Agreement on Co-operation between the Chamber of Commerce and Industry of the Russian Federation, and the Chambers of Commerce of South Africa (CHAMSA). The agreement included the establishment of a South Africa – Russia Business Council. During this engagement a business forum was successfully held, 196
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ABOUT THE AUTHORS: Dr. IRINA ABRAMO
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330.324.22 330.123.72 351.823.003 3
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INTRODUCTION IN THE GLOBALIZED WORL
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At certain stages of their history,
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tives. The authors are not describi
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cations, including monographs 1 and
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arena by the loftiest goals and ide
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quence, their role in the world eco
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thus the last seller of the commodi
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Table 1.1.2. World chromium product
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Table 1.1.3. World cobalt productio
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shore in many parts of the world. L
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Though US totally depends on import
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isk of supply shortage in the next
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long been obsolete, do exist and te
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a European-African energy forum; th
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upon the same ideology: the new roa
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Force. At the request of the UN Sec
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- The United States has sole jurisd
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uses to track terrorists. Algerian
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sum, in exchange for terminating th
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UK, Greece, Italy and Spain during
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ing Angola’s large oil resources
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China concluded two major M&A deals
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the continent. To help African coun
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egy with regard to Sudan and Zimbab
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some price-related difficulties for
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100,000 students from almost every
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15 U.S. Geological Survey, Mineral
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CHAPTER 2 Natural Resource Potentia
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tion in the global division of labo
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of other nations (manifest in an ex
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The mineral resource base (MRB) of
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In Nigeria, the smelter at Ikot Aba
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ite production at Komi to reach 6.5
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depletion. In South Africa, output
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25-26 thousand tons of copper conce
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Country 75 Cost Ranges Namibia 0 20
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The Elkon district, Southern Yakuti
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ites and Miocene sediments extendin
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South, Etango and Valencia alaskite
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of competitiveness by similar produ
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tive scenario, the above goals will
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The concept of resource efficiency
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vately owned. The leading enterpris
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In this respect African and Russian
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Table 2.2.2. Distribution of capita
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will allow the project to overcome
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World prices on all types of minera
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2.3. Competitors or Partners? Russi
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Soviet organizations supplied Alger
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that the gas crisis between Russia
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The second LUKOIL project in Egypt
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The agreement was finally signed du
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pany “Slavneft” would join a co
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DRC to extract copper and cobalt in
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for 22 years in 2002 Friguia refine
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licenses. They are the only Russian
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that the main aims were inter-alia
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Agency to develop plans for up to 4
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pit nickel mine and the Selkirk und
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deposit also contains a Peridotite-
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and Eastern parts of the EPL 3850 p
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Russian economy and the specifics o
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34 . 2009. C. 366- 368. 35 John St
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CHAPTER 3 Project RUSSAFRICA: Towar
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copra, spices, other products of tr
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This theoretic and scientific aura
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and technical cooperation with Afri
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higher and specialized secondary ed
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used and repaid part of the credit.
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exploitation of projects. Soviet ex
Page 146 and 147: At the same time we recognize that
Page 148 and 149: For the Soviet Union, solidarity wi
Page 150 and 151: disappeared together with their ass
Page 152 and 153: cial Representative of the Presiden
Page 154 and 155: countries and minimize the adverse
Page 156 and 157: The principled line in support of A
Page 158 and 159: Exports of Russian raw materials to
Page 160 and 161: of Su-30MKA fighters. At the same t
Page 162 and 163: etc. He also remarked that since th
Page 164 and 165: However, there are harbingers of a
Page 166 and 167: There was a good demand in Egypt fo
Page 168 and 169: Another promising sphere for Russia
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Page 172 and 173: All these companies have permanent
Page 174 and 175: ment of the Russian Federation 105
Page 176 and 177: As of mid 2010, other areas of econ
Page 178 and 179: cooperation and hydrocarbon product
Page 180 and 181: tion." The participants in the Raba
Page 182 and 183: 2009 consisted of such traditional
Page 184 and 185: From October 21-23, 2010, the Fourt
Page 186 and 187: (May 2009), and Ugandan President Y
Page 188 and 189: Russia provided humanitarian aid to
Page 190 and 191: Nigeria’s Share in Russia’s Imp
Page 192 and 193: supplies only it is either a blatan
Page 194 and 195: On the initiative of the Ethiopian
Page 198 and 199: led by the two Chambers and attende
Page 200 and 201: coal mixture of a new generation. T
Page 202 and 203: cial architecture and food safety a
Page 204 and 205: The talks in Luanda led the two cou
Page 206 and 207: 9 Annual Report of Alexander Saltan
Page 208 and 209: CONCLUSIONS THE RESULTS OF THE UNDE
Page 210 and 211: interpretations is the intensifying
Page 212: Leonid FITUNI and Irina ABRAMOVA RE
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