Russian President Vladimir Putin at the opening of a summit aimed at reviving ties between Moscow and the African continent said that Russia aims to double trade with Africa over the next five years.
“We currently export to Africa $25 billion worth of food — which is more than we export in arms, at $15 billion. In the next four to five years I think we should be able to double this trade, at least,” he told African leaders at the Black Sea resort of Sochi.
In Africa, there are very many potential partners with good prospects.”
Quite a number of African leaders are in Sochi for the first Russia-Africa Summit, as Moscow seeks greater influence on a continent where the West and China have a firm foothold.
The two-day event hopes to see more than 3,000 delegates prepare deals and discuss topical issues relating to nuclear technology and mineral extraction.