Currencies:
RUB/USD 0,0115
0,0003
BRL/USD 0,1848
0,0017
INR/USD 0,1198
0,0001
CNY/USD 0,1355
0,0006
ZAR/USD 0,5498
0,0056
Weather:
Moscow 24 °C
Brazilia 25 °C
New Delhi 38 °C
Beijing 26 °C
Pretoria 14 °C
Cairo 33 °C
Tehran 30 °C
Abu Dhabi 35 °C
Menu
Home
News
Videos
Podcasts
Menu
Иконка с часами 14 minutes 2 sec.
Ambassador of Ethiopia to Russia Uriat Cham Ugala/ “Joining BRICS is a growth opportunity for Ethiopia”
Иконка с часами 20 minutes 11 sec.
Douw Vermaak/ «Relations between Russia and South Africa are getting stronger»
Иконка с часами 8 minutes 22 sec.
Anthony Phiri, Harare Institute of Technology/"The world needs to work together to reduce greenhouse gas emissions"
19.06.2412:56 Society
TV BRICS begins co-operation with Vietnam
11.06.2416:45 Society
TV BRICS and Moscow to join forces to promote image of Russian capital as international centre of creative industries
11.06.2409:05 Society
India's largest television network TV9 and TV BRICS to jointly promote united BRICS agenda
Russia South Africa
01.06.23 12:00
Economics

Participants of the Russia-South Africa Business Council note growth in trade between the countries

The Russia-South Africa Business Council meeting was held at the Russian Chamber of Commerce and Industry

Trade between Russia and the Republic of South Africa is growing. In 2022 it has increased by more than 15 per cent to about 1.3 billion US dollars. This was revealed by the participants of the Russia-South Africa Business Council. The meeting was held at the Russian Chamber of Commerce and Industry.

"Both Russian and South African economies are quite high in the world rankings. And the most important thing is that they are in the top 20 states in terms of population. So the potential is great," said Pavel Yakovlev, chairman of the Russia-South Africa Business Council.

According to a number of experts, cooperation at the level of international organisations, will help to realise the potential.

Energy, telecommunications, electronics and other industries are also promising for partnership between the two countries, said the participants in the meeting. Tourism and agriculture have a special potential.

"Agreements were reached to continue work on increasing trade in agricultural products as well as access of goods to the markets of the two countries. The South African side expressed readiness to send in the nearest future actual veterinary-sanitary requirements for import of livestock products to South Africa, sanitary requirements, requirements for grains and oils," said Emil Kuliev, head of the Africa Department of the Russian Ministry of Economic Development.

The key to the further development of cooperation is the expansion of business ties not only at the level of global corporations.

"The contribution of small and medium-sized businesses to the gross domestic product is increasing every year. In South Africa, this is happening with a slight lag. Small and medium-sized businesses have started to develop in the last 10-15 years, so Russia even has a certain advantage here. Talking to the heads of companies with a turnover of a few million dollars or $100 million, who have fresh ideas, is useful for both countries," said Yakovlev.

The meeting participants also discussed projects that are being implemented in the financial, scientific and educational spheres. For example, Russia has more than doubled the number of places in universities for students from South Africa, which are paid for from the budget. Preparations for the Russia-Africa summit were another topic of discussion, as reported by TV BRICS.

Photo: TV BRICS


Short
and to the point
Once a week we will cover news in the BRICS countries
By clicking on the "Subscribe" button, you agree to the processing of personal data

MORE ON THE TOPIC

19.06.2415:35 Economics
Fish production rises in Zimbabwe
19.06.2410:30 Economics
Iran exports pharmaceutical and medical goods to 50 nations
18.06.2416:16 Economics
Iran to introduce digital currency into circulation
18.06.2411:45 Economics
Brazil car sales up 15.4% in May
17.06.2415:35 Economics
Ethiopian farmers cultivate high-yielding coffee varieties
17.06.2412:26 Economics
India creates its own deep-sea mission
Short
and to the point
Once a week we will cover news in the BRICS countries
By clicking on the "Subscribe" button, you agree to the processing of personal data