Russia, Madagascar consider establishing joint free economic zone

The Republic of Madagascar and Russia intend to sign an agreement to create a joint economic zone, Madagascar’s transitional Prime Minister Mamitiana Rajaonarison has said while speaking at an international security forum in Russia.

He noted that the Malagasy side had already received humanitarian assistance from Russia in February to address the aftermath of Tropical Cyclone Gezani, TASS reports.

According to him, cooperation between the two countries is expected to expand into higher education, agriculture, and military training. Following the establishment of the joint economic zone, conditions for doing business and attracting investment in Madagascar are expected to improve.

Rajaonarison also said talks are underway with Russian officials on creating fuel storage facilities in Madagascar amid instability in global energy markets.

In addition, he stated plans to develop democratic institutions in the country based on international models.

The international security forum is taking place from May 26 to 29 in the Moscow region under the auspices of Russia’s Security Council.

By Jeyhun Aghazada