Putin calls for doubling Russia-Africa trade, deepening cooperation-Xinhua

Putin calls for doubling Russia-Africa trade, deepening cooperation

Source: Xinhua| 2026-10-29 19:04:00|Editor: huaxia

MOSCOW, Oct. 29 (Xinhua) -- Russian President Vladimir Putin on Wednesday called for at least doubling trade between Russia and African countries in the near future, while outlining plans to deepen cooperation in energy, food security, technology and humanitarian affairs at the Russia-Africa Economic and Humanitarian Forum.

Speaking at the plenary session, Putin said Russia-Africa trade turnover exceeded 27 billion U.S. dollars last year, up from 18 billion dollars in 2022.

"I am convinced that we are capable of further increasing this figure at least twofold in the very near future, and will definitely surpass the 50 billion mark," he said.

To achieve this goal, Putin highlighted efforts to expand the use of national currencies in bilateral financial settlements, as well as the implementation of more than 30 energy projects in 16 African countries.

Putin said the world was moving toward a more equitable international order, pointing to the growing role of BRICS countries. Over the past five years, BRICS members accounted for more than 40 percent of global GDP, compared with less than 30 percent for the Group of Seven (G7), he said.

Putin criticized Western policies, saying efforts to maintain global dominance were being pursued through "tariff wars, illegitimate sanctions, economic dictate, blackmail and interference in internal affairs." He also called for reforms of the IMF and the World Bank to better serve the needs of developing economies.

Highlighting Russia's role in global food security, Putin said the country exported 13 million tons of agricultural products to Africa in the first nine months of 2026. Russian grain and fertilizers are already supplied to more than 40 African countries, he said.

In public health, Putin announced that Russia's program to support epidemiological safety in Africa would be extended until 2029. Under the program, 15 mobile laboratories had been delivered to eight African countries and about 450 African specialists had been trained, he said.

The Russia-Africa Summit and the associated Economic and Humanitarian Forum focus on cooperation in energy, industry, agriculture, transport, peaceful nuclear energy, technology, digitalization, artificial intelligence, cybersecurity, space and humanitarian affairs. ■

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