Russian President Vladimir Putin pledged to increase trade, economic, and humanitarian ties between Russia and Africa during his speech at the second Russia-Africa Summit in Saint Petersburg. He stressed Russia's commitment to cement cooperation with African countries in the areas of energy, mining, infrastructure, education, health, and ICT sectors.

The second Africa-Russia Summit in St. Petersburg will focus on food security and the ongoing conflict in Ukraine. Russia's recent decision to withdraw from an international grain deal has left many in Africa concerned. The agreement, brokered by the United Nations and Turkey last year, allowed the safe passage of agricultural goods through Ukraine's ports in the Black Sea. However, most of the nearly 33 million tonnes of grain exported since the agreement was signed did not reach the world's poorest countries. Nevertheless, the deal helped to reverse spiraling food prices by over 20%.

Russia-Africa trade turnover has already reached 18 billion USD, with agricultural products between Russia and Africa growing by 60% in 2023. Putin expressed his desire to drastically increase trade ties between the two regions.

Russia holds a 20% share of the global wheat market and has already exported 10 million tons of grain to Africa in the first half of 2023. The country is ready to provide Zimbabwe, Burkina Faso, Somalia, and Eritrea with 25-50 thousand tons of grain each in the next 3-4 months and ensure its free delivery to consumers.

Source: Fana BC and Aljazeera

Image source: TIME