Russia aims to double trade with Africa in 5 years: Putin
Updated | By AFP
President Vladimir Putin said Wednesday that Russia would aim to double trade with Africa over the next five years, at the opening of a summit aimed at reviving Moscow's ties with the continent.
"We currently export to Africa $25 billion worth of food -- which is more than we export in arms, at $15 billion. In the next four to five years I think we should be able to double this trade, at least," he told African leaders at the Black Sea resort of Sochi.
"In Africa there are very many potential partners with good prospects."
Putin said the current level of trade between Moscow and the continent was "not enough".
"African countries are attracting ever more attention from Russian businesses," the president added, highlighting a number of major Russian companies that were already working on the continent.
Dozens of African leaders are in Sochi for the first Russia-Africa Summit, as Moscow seeks greater influence on a continent where the West and China have a firm foothold.
ALSO READ:
From Pushkin to Kalashnikov: a history of Russia-Africa links
As President Vladimir Putin hosts African leaders for the first Russia-Africa Summit in Sochi on Wednesday and Thursday, here is a look at these connections, starting with beloved 19th-century poet Alexander Pushkin. ALSO READ: From Russia with love: 'Blackjack' bombers in SA as Ramaphosa arrives at Russia-Africa summit - Russia's 'Moor' - Pushkin, who lived from 1799 to 1837, was a rare mixed-race aristocrat in tsarist-era Saint Petersburg.
The two-day event will see more than 3,000 delegates prepare deals and discuss topics from nuclear technology to mineral extraction.
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