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Russia to double trade turnover with African countries through 2030 — ministry

As Pavel Kalmychek said, if implemented, the joint events will facilitate reaching strategic targets on diversification of Russian-African trade and economic ties and boosting mutual trade volumes in the mid-term

MOSCOW, March 20. /TASS/. Russia’s foreign trade turnover with African countries may double by 2030, Department Director with the Ministry of Economic Development Pavel Kalmychek said at the International Parliamentary Conference Russia-Africa on Monday.

"The analysis of promising product niches on the African market carried out by the Economic Development Ministry shows that Russia and Africa may at least double trade turnover figures through 2030," he said, adding that "for doing this it is necessary to speed up joint efforts on strengthening bilateral cooperation, boost expertise, fine-tune support instruments and provide additional resources to development institutions."

Kalmychek also noted a roadmap developed by the ministry on the basis of proposals by relevant ministries and agencies. The document outlines Russia’s and African countries’ joint events on key cooperation areas such as industry, finance and banking, education, transport, agriculture and fishing, healthcare, information and communication technologies and media.

If implemented, the joint events will facilitate reaching strategic targets on diversification of Russian-African trade and economic ties and boosting mutual trade volumes in the mid-term, he pointed out.

The ministry’s official also said that Russia’s trade turnover with African countries totaled around $18 bln in 2022, with wheat and meslin accounting for around 25% of Russian supplies to the African market, as well as oil and petroleum products accounting for another 22%.

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