- 鈥淚n Africa there are very many potential partners with good prospects.鈥�
SOCHI, Russia: President Vladimir Putin said Wednesday that Russia would aim to double trade with Africa over the next five years, at the opening of a summit aimed at reviving Moscow鈥檚 ties with the continent.
鈥淲e currently export to Africa $25 billion worth of food 鈥� 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,鈥� he told African leaders at the Black Sea resort of Sochi.
鈥淚n Africa there are very many potential partners with good prospects.鈥�
FASTFACTS
鈥� Russia has written off more than $20 billion of African debt.
鈥� Putin has promised cooperation without 鈥榩olitical or other鈥� interference.
鈥� Russia鈥檚 trade with Africa is less than half that of France with the continent, and 10 times less than that of China.
Putin said the current level of trade between Moscow and the continent was 鈥渘ot enough.鈥�
鈥淎frican countries are attracting ever more attention from Russian businesses,鈥� the president added, highlighting a number of major Russian companies that were already working on the continent.
Dozens 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 will see more than 3,000 delegates prepare deals and discuss topics from nuclear technology to mineral extraction.