Russian President Vladimir Putin has called for enhanced trade and investment cooperation between Russia and African countries. Speaking at the third Russia-Africa Summit in Moscow, Putin stated that the two sides have made significant progress, with bilateral trade exceeding $27 billion in 2025, a 50% increase from the previous summit in 2023. He emphasized that there are vast opportunities for growth and that the partnership between Russia and Africa can be taken to a higher level.
Putin highlighted energy, nuclear energy, extractive industries, industrial cooperation, logistics, and tourism as promising areas for development. He also noted that the rapprochement between the Eurasian Economic Union and the African Continental Free Trade Area can foster economic integration and expand partnership opportunities. The Russian President expressed his desire to contribute to building a prosperous and advanced Africa, based on mutual interests.
Burundian President and Chair of the African Union, Évariste Ndayishimiye, also emphasized the need for stronger economic ties between Russia and Africa. He called for partnerships focused on industrialization, technology transfer, and enhancing the value added of Africa's natural resources. Ndayishimiye urged Russian companies to expand their investments in Africa, establish industrial partnerships, and share expertise and skills.
Ndayishimiye stressed that Africa can no longer rely solely on exporting raw materials and importing manufactured products. He emphasized the importance of developing local industrial capacities, modernizing the agricultural sector, and improving energy and logistics infrastructure to support Africa's economic transformation. The Burundian President's remarks reflected the aspirations of many African countries to diversify their economies and increase their global competitiveness.
The third Russia-Africa Summit, attended by representatives from several African countries, aims to give a new impetus to cooperation between Russia and Africa in economic, political, and security areas. The summit is expected to conclude with the adoption of a final declaration and a plan of action for the Russian-African Partnership Forum for 2027-2029. The two sides will also announce cooperation in the civilian use of artificial intelligence technologies.
The summit provides a platform for Russia and Africa to review their cooperation and identify new areas of collaboration. Putin's emphasis on energy and industry reflects Russia's desire to play a significant role in Africa's economic development. African leaders, in turn, are seeking to leverage Russian expertise and investments to drive their own economic growth and transformation.
The Russia-Africa Summit has become a regular event, with the first summit held in 2019 and the second in 2023. The third summit is expected to build on the progress made in previous meetings and pave the way for deeper cooperation between Russia and Africa in the years to come.
Key points
- Putin calls for stronger trade and investment ties with African countries.
- Africa seeks partnerships focused on industrialization, technology transfer, and enhancing the value added of its natural resources.
- The summit aims to give a new impetus to cooperation between Russia and Africa in economic, political, and security areas.
