Russia Targets to Double Trade with Africa by 2030

Russia is set to double its trade with African nations by 2030, according to Pavel Kalmychek, Director of the Department for Bipartite Cooperation Development at the Russian Ministry of Economic Development, according to TV BRICS.

Speaking at the II International Symposium Inventing the Future, Kalmychek identified Africa as a key region for global economic expansion, noting its growing population projected to reach 1.7 billion by 2030.

While Russia’s current exports to Africa are mainly food and energy products, Moscow aims to diversify its trade by including industrial goods, machinery, transport equipment, and advanced technologies in geology, mining, digitalisation, agriculture, and energy generation.

Kalmychek also underlined the need to strengthen cooperation with sub-Saharan nations through improved logistics, payment systems, and project-based partnerships.

Russia has already signed six intergovernmental agreements on investment protection and plans to finalize six more with Congo, Mali, Morocco, Nigeria, Tanzania, and Burkina Faso.