Russia’s Trade Turnover In Africa Reached US$18 Billion In 2022—Putin Discloses

Russia’s trade turnover in Africa in 2022 reached almost US$18 billion, President Vladimir Putin has revealed in an article ahead of the Second Russia-Africa Summit scheduled from today July 27 -28, 2023, in St. Petersburg.

Despite these investments in Africa, Mr Putin said, “We are well aware that the potential of our trade and economic partnership is much higher.

“Russian companies are interested in working more actively on the continent in the sphere of high technologies and geological exploration, in the fuel and energy complex, including nuclear power, in the chemical industry, mining and transport engineering, agriculture and fishery.”

Mr Putin noted that the changes taking place in the world require the search for solutions related to the establishment of new transport and logistical chains, the formation of a monetary and financial system, and mechanisms of mutual settlements that are safe and free from unfavourable external impacts.

Touching on Russia’s relationship with Africa, Mr Putin said, “The partnership between our country and Africa has strong, deep roots and has always been distinguished by stability, trust and goodwill.”

According to him, Russia has consistently supported Africans in their struggle for liberation from colonial oppression, adding, “We have assisted in developing statehood, strengthening their sovereignty and defence capability.

“By the mid-1980s, with the participation of our specialists, over 330 large infrastructure and industrial facilities have been built in Africa, such as power plants, irrigation systems, industrial and agricultural enterprises, which are successfully operating to this day, and continue to make a significant contribution to the continent’s economic development. Tens of thousands of African doctors, technical specialists, engineers, officers and teachers have received education in Russia,” he stated.

Mr Putin who expressed disgust at how Europe unscrupulously handled the so-called ‘grain deal’ said notwithstanding the sanctions imposed on Russia, it would continue its energetic efforts to provide supplies of grain, food products, fertilizers and other goods to Africa.

“We highly value and will further develop the full spectrum of economic ties with Africa–with individual states as well as regional integration associations and naturally, with the African Union,” he assured.

Mr Putin was hopeful that the second Russia -Africa summit would adopt a comprehensive Declaration, several joint statements and approve the Russia–Africa Partnership Forum Action Plan to 2026.

“We are working to prepare an impressive package of intergovernmental and inter-agency agreements and memoranda with individual states as well as regional associations of the continent. I am looking forward to welcoming the African leaders in St. Petersburg and stand committed to a fruitful constructive dialogue,” he concluded.

Source: https://energynewsafrica.com