Equatorial Guinea would welcome activities of Russian companies especially if they operate in the mining industry.
President Teodoro Obiang Nguema Mbasogo gave the asurance on Thursday in Moscow during talks with the Russian President Vladimir Putin.
According to Putin, Russia and Equatorial Guinea have many overlapping mutual interests.
"Russian companies are seriously interested in working in Africa in general and in your country. Potential investment opportunities are large. And the capacities of your country for the improvment of these opportunities are also good, mostly in regard to the potential of minerals extraction" said the Russian President.
Obiang Nguema Mbasogo expressed appreciation for the invitation to Moscow and spoke about plans to boost defense and economic cooperation relations with Russia.
"When the Russian government promises to send its businessmen to help Africa develop, we can only say: let them come. Equatorial Guinea gladly accepts this proposal" Nguema Mbasogo said.
Both parties identified commitment as the fundamental step along the path to the development. The opening of Russia’s embassy in the central African country, before the end of the year, is also expected to contribute to the rapid growth of cooperation between the two nations.
Equatorial Guinea's president is the longest-serving president of any country ever. Nguema Mbasogo currently heads the Economic Community of Central African States (ECCAS), a regional bloc that includes members such as Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, Gabon, and São Tomé and Principe.