Egypt tops the list of Russia’s trading partners in Africa
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According to the department’s materials, which were prepared for one of the events in the Federation Council, the volume of trade turnover between Russia and the countries of the continent amounted to $15.5 billion. The indicator increased by 43.5% compared to the data for January-August 2022.
The materials of the Ministry of Economic Development quote the words of the head of the ministry, Maxim Reshetnikov. He pointed out that African countries have a “rich resource base” but lack production technologies. Russian technologies for developing deposits and extracting minerals are needed, the minister believes.
The top five African states in terms of trade turnover with Russia, according to data for eight months of 2023, included Egypt, Algeria, Morocco, Tunisia and Libya, the ministry’s press service also reported.
In 2022, trade turnover between Russia and African countries reached $18 billion, Russian President Vladimir Putin previously said in an opinion article entitled “Russia and Africa: joining forces for peace, progress and a successful future.” He wrote this article for African media on the eve of the Russia-Africa summit.
In the summer, the president also said that the growth in trade between Russia and African countries in the first half of 2023 will increase. made up 35%. He also noted that Moscow continues to be a reliable supplier of food to Africa. On July 26, Putin met with the President of Egypt and stated that joint projects between the two countries, including in the energy field, are developing according to plan. According to the Russian leader, trade turnover between the countries in 2022 increased by 28.8%, and in the five months of this year – by another 7%. He noted that one third of Russia’s trade turnover with Africa “accounts for Egypt.”
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