Russia with agreements to boost military

Russia targets to more than double its trade volumes with Africa to $40 billion in five years even though its business ties with the continent remain largely centred on defence pacts.

President Vladimir Putin made the announcement at the first Russia-Africa Summit held in Sochi last week, where more than 40 African heads of state attended. Trade between Russia and Africa is currently about $20 billion, just about 10 per cent of China’s $200 billion.

“We plan to expand trade and economic co-operation. We believe that we can bring it to higher levels and reach at least $40 billion,” said President Putin in his key address to the Summit.

Moscow has cemented military co-operation deals with 30 African countries with which President Putin said there was a running “technical co-operation,” making the target achievable if more countries on the continent take up Russian arms.

“Our military and military technical co-operation is aimed at strengthening African armed forces’ combat capability,” he said.

“Russia has MTC agreements with over 30 countries, which we supply with a wide range of armaments and equipment. Part of these supplies are provided free of charge.”

Like
Like Love Haha Wow Sad Angry

What do you think?

Written by Chiamaka Ekeh

Africa: Russia Digitalises Africa's Mining Sector to Increase Output

Two Kenyan coaches among 8 finalists in WorldRemit Future Stars