Crocodiletooth
JF-Expert Member
- Oct 28, 2012
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Russian factories could soon be heading to Africa. That's the message Vladimir Putin delivered in Moscow on Thursday.
Speaking on the second day of the Russia–Africa Summit, Putin said Russian companies are interested in shifting some of their production to African countries. He linked the idea directly to the many Western sanctions placed on Russia's economy and businesses, saying the move fits Russia's interests right now and that the interest runs both ways.
What Putin said:
🔹 Russian firms have strong investment potential, and there is plenty of work to be done
🔹 African governments must keep their decisions sovereign
🔹 Investments must be safe and protected, so production keeps running whatever the political climate
🔹 Russia–Africa trade reached about $27 billion last year, and he believes it can grow to $50 billion in the near future
He did not name any companies, destination countries or timelines.
His remarks came after a speech by Burundi's President Évariste Ndayishimiye, the current African Union chair. Ndayishimiye said Africa should move away from exporting raw materials and importing finished goods, and urged Russian companies to invest in production and supply chains on the continent.
The summit brought together delegations from 48 African countries, 22 of them led by their heads of state.
Some context:
🔹 Putin first promised to double trade with Africa at the 2019 Sochi summit
🔹 Africa accounts for about 3.9% of Russia's total foreign trade
🔹 Earlier this week, Rosatom said it is in advanced talks to supply floating nuclear power plants to African countries
Would Russian factories be good news for Africa? Tell us what you think in the comments 👇
#RussiaAfricaSummit #Putin #Africa #Russia #Geopolitics
Speaking on the second day of the Russia–Africa Summit, Putin said Russian companies are interested in shifting some of their production to African countries. He linked the idea directly to the many Western sanctions placed on Russia's economy and businesses, saying the move fits Russia's interests right now and that the interest runs both ways.
What Putin said:
🔹 Russian firms have strong investment potential, and there is plenty of work to be done
🔹 African governments must keep their decisions sovereign
🔹 Investments must be safe and protected, so production keeps running whatever the political climate
🔹 Russia–Africa trade reached about $27 billion last year, and he believes it can grow to $50 billion in the near future
He did not name any companies, destination countries or timelines.
His remarks came after a speech by Burundi's President Évariste Ndayishimiye, the current African Union chair. Ndayishimiye said Africa should move away from exporting raw materials and importing finished goods, and urged Russian companies to invest in production and supply chains on the continent.
The summit brought together delegations from 48 African countries, 22 of them led by their heads of state.
Some context:
🔹 Putin first promised to double trade with Africa at the 2019 Sochi summit
🔹 Africa accounts for about 3.9% of Russia's total foreign trade
🔹 Earlier this week, Rosatom said it is in advanced talks to supply floating nuclear power plants to African countries
Would Russian factories be good news for Africa? Tell us what you think in the comments 👇
#RussiaAfricaSummit #Putin #Africa #Russia #Geopolitics
