Russia aims to double trade with African nations by 2030

Russia plans to double its trade with African countries by 2030, announced Pavel Kalmychek, Director of the Department for Bipartite Cooperation Development at the Ministry of Economic Development of the Russian Federation.

Kalmychek made the remarks at the II International Symposium “Inventing the Future.” He described Africa as one of the world’s most promising regions for economic growth and highlighted the continent’s demographic potential, with its population expected to reach 1.7 billion by 2030.

Currently, Russia’s exports to African markets are dominated by food and energy products, however, Kalmychek stressed that Russia aims to broaden its exports beyond these sectors. The country plans to supply industrial goods, machinery, and transport equipment, as well as provide expertise and technologies in areas such as geology and mining, modern agriculture, digitalisation, and nuclear and hydroelectric power generation.

He also emphasised the importance of enhancing engagement with countries south of the Sahara, building more resilient trade and cooperation infrastructure, particularly in logistics and payment systems, and accelerating project-based collaboration across Africa.

Six intergovernmental agreements on investment protection have already been signed, with plans to conclude six more agreements in the near future with the Republics of Congo, Mali, Morocco, Nigeria, Tanzania, and Burkina Faso. 

Photo: Stanislav Gvozd / iStock