Russia Seeks Expanding Trade with Africa
(MENAFN) Africa is emerging as a crucial market for Russian exporters, offering substantial untapped opportunities for trade growth and investment, according to the vice president of the Russian Export Center (REC).
In her address at the INNOPROM-2025 industrial forum in Ekaterinburg on Tuesday, Tatyana An highlighted that the REC is aiding Russian businesses with financial tools and export assistance to help them enter the African market.
While export volumes to Africa have been increasing steadily, An pointed out that trade is still concentrated in a small number of countries and product types.
“Wheat and oil products account for about 65% of supplies,” she explained, stressing the need for diversification both in terms of sectors and regions.
In 2024, REC-supported export transactions to African nations amounted to 121.8 billion rubles (roughly $1.5 billion).
The primary destinations included Egypt, Sudan, Libya, Tunisia, Cote d'Ivoire, Algeria, and Morocco.
During the 28th St. Petersburg International Economic Forum (SPIEF) in June, Dmitry Konyaev, CEO of Uralchem, one of Russia's major fertilizer producers, discussed plans to increase annual fertilizer exports to Africa by five times, from 1 million metric tons to 5 million by 2030.
He described this goal as “real results and real achievements” for both Uralchem and the agricultural progress of the continent.
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