Russian President Vladimir Putin said Thursday Russia seeks to develop and strengthen ties with all African countries, stressing the importance of expanding Russian-African co-operation across the various fields.
Addressing the opening session of the Russia-Africa Summit, held under the theme “For Peace and Development,” the Russian president thanked participants for accepting the invitation and traveling to Moscow, saying their attendance reflected strong commitment to strengthening relations with Russia.
President Putin said the summit provides an important opportunity to discuss prospects for Russian-African relations, assess their current state and explore ways to develop and deepen co-operation in pursuit of shared interests.
Putin said Russia remains committed to supporting African countries’ sovereignty and economic growth, noting that bilateral trade exceeded $27 billion last year, doubling from the level recorded at the previous Russia-Africa Summit.
Addressing the summit’s plenary session in Moscow, Putin said economic ties between Russia and African countries are gaining momentum, offering significant opportunities to expand co-operation and increase trade and capital flows.
He said cooperation between regional economic blocs, including the Eurasian Economic Union and the African Continental Free Trade Area, along with the Eurasian bloc’s tariff preferences, provides African exporters with advantages in accessing its markets.
Putin added that Russian companies are involved in major investment projects across Africa in energy, nuclear power, mining, natural resource exploration, logistics and tourism.
He said Russian businesses work with African partners on the basis of mutual respect and equality, investing in local economies, creating jobs and developing projects for local communities.
The Russian president stressed that expanding economic and investment ties and increasing the use of national currencies in trade and financial transfers would strengthen bilateral relations and shield them from external pressures.
The Russian ruble now accounts for about 85% of trade transactions between Russia and African countries, Putin said.
On food security, Putin described Russia as a reliable supplier of agricultural products to African markets, saying Russia exported about 13 million tonnes of wheat to African countries last year.
Fertiliser exports reached 1.5 million tonnes last year and are expected to rise to 2.2 million tons this year.
He added that Russia allocates $10 million annually through United Nations food programs to support agricultural development projects in African countries.
Putin also highlighted the importance of modern agricultural technologies, saying Africa has the potential to achieve food self-sufficiency and eventually become a major exporter of food products.
