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Over 50% of Russian exports to Africa in 2024 may include fertilizers, metals, timber

First Deputy Minister of Russia Vasily Osmakov said in March that Russia could create its own leasing company in Africa

ST. PETERSBURG, July 27. /TASS/. According to the Russian Ministry of Industry and Trade, fertilizers, metals, and lumber would account for more than half of Russian exports to Africa by 2024, Russian First Deputy Minister Vasily Osmakov said.

"Right now, we're rethinking the entire philosophy of supporting non-primary and non-energy exports with a focus on Africa, Latin America, and Southeast Asia. Furthermore, Africa appears to be the most promising direction to us - according to our projections, in 2024, more than half of African exports will be timber, fertilizers, and metals," he stated.

Earlier in March, Osmakov said that Russia could create its own leasing company in Africa.

The second Russia-Africa Summit is taking place at St. Petersburg’s Expoforum on July 27-28, in parallel with economic and humanitarian forums. Similar to the first such summit in 2019, the event is being held under the rubric "For Peace, Security and Development." The event is being organized by the Roscongress Foundation. TASS is the event’s official information partner and photo-hosting agency.

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