Trade between Russia, Africa reach USD 18 billion

Trade turnover between Russia and Africa reached USD 18 billion in 2022, Russian President Vladimir Putin said on Thursday, according to the Kremlin.

Talking about trade ties, Putin said, "Our mutual trade reached approximately 18 billion US dollars in 2022 and increased by nearly 35 per cent in the first six months of 2023."

Russian President Putin on Thursday held a trilateral meeting with the Chairperson of the African Union and President of the Union of the Comoros Azali Assoumani and the Chairperson of the African Union Commission Moussa Faki Mahamat.

"Russia remains a reliable food supplier for Africa. In 2022, Russian food exports amounted to 4.7 billion US dollars. Many large Russian companies are successfully working in Africa. The key spheres of our cooperation include energy, subsoil use, and agriculture. There are good opportunities for cooperation in research and technology, education and culture," he added.

Talking about its relations with the Union of Comoros, Putin said that he "highly values" their relations, which are based on the principles of mutual respect and a balance of each other’s interests and have development potential in a number of spheres.

In the meeting, Putin hoped that the decision to give full membership to African Union in the G20 to be accepted in the group's New Delhi Summit in September.

"We support the Union’s involvement in the work of leading international associations. I would like to remind you that Russia was one of the first to react positively to the initiative advanced by the President of Senegal, who preceded you in this position, for granting the African Union full membership in the G20. We hope that the decision will be adopted at the G20 summit in New Delhi in September," Putin said.

"We will give priority attention to these issues at the summit, which opens today. We will also discuss practical decisions on building up trade and economic cooperation, ensuring food and energy security, and developing national healthcare systems," he added.

He also stated that Russia is ready to help strengthen African countries’ sovereignty and contribute to Africa becoming a key partner in the new system of the multipolar world order.