German Media Today
SEE OTHER BRANDS

Following media and advertising news from Germany

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.

MENAFN10072025000045017167ID1109784647


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Share us

on your social networks:
AGPs

Get the latest news on this topic.

SIGN UP FOR FREE TODAY

No Thanks

By signing to this email alert, you
agree to our Terms of Service