The Russian Ministry of Economic Development will have a new department for interaction with African countries. This was reported by TASS.
The new structure will be tasked with promoting trade and economic cooperation with African countries, including expanding geographical coverage with the participation of intergovernmental commissions and working groups.
The Ministry emphasized that the interest of the Russian business community in the continent is increasing, and therefore tasks have been set “to expand trade and economic relations with African countries and to provide high-quality administrative support to Russian companies entering African markets (…) ”
The publication states that Russia’s trade turnover with African countries will increase by more than 40 percent in 2023, reaching over 15.5 billion dollars. Among the leaders in trade turnover are Egypt, Algeria, Morocco, Tunisia and Libya.
Since nearly 70 percent of Russia’s investments in African countries are in the mining sector, the new department will deal with diversified areas of economic cooperation, among other issues. Possible applications of the forces are agriculture, medicine, IT and energy.
On January 29, Belarusian President Alexander Lukashenko said he was discussing the future trips to africa.
On January 26, Russian Ambassador to the Central African Republic Alexander Bikantov said that the Central African Republic relating to While conducting Russian research on mining.
Previously USA anxious Russia’s strengthening in Africa.