Over the years, the Saint Petersburg International Economic Forum has become an open platform to exchange best practices and key competences in the interest of providing sustainable development.

The Russia-Africa Trade and Investment Forum is one of the platforms that seek to promote business opportunities on the African continent and serves as a bridge between Russian and African business. It primarily seeks to deepen understanding of the business climate, accelerate investment and partnership possibilities in Africa.

Faced with persistent criticisms, Russia has finally announced it will most likely host the first high-level Russia-African Union forum next year, a replica or a carbon copy of the Forum on China Africa Cooperation or European Union–African Union summit, signalling its readiness to work towards deepening and strengthening multifaceted engagement with Africa.

Over the past two decades, Russia's efforts to regain its Soviet-era influence in Africa have achieved little success because "times have changed significantly, for example, a new economic and political environment, new emerging challenges, new competitive conditions and new bases for cooperation," according to Nataliya Zaiser, a Public Policy Advisor at Squire Patton Boggs Moscow office covering Russia, the Eurasian Union and Africa, and also the Chair of the Africa Business Initiative.