Putin Calls For Doubling Russia-Africa Trade Within 4-5 Years

Putin Calls for Doubling Russia-Africa Trade Within 4-5 Years

Russian President Vladimir Putin has called for doubling the Russia-Africa trade within the next 4-5 years, also announcing plans to expand Russia's presence on the continent

SOCHI (Pakistan Point News / Sputnik - 23rd October, 2019) Russian President Vladimir Putin has called for doubling the Russia-Africa trade within the next 4-5 years, also announcing plans to expand Russia's presence on the continent.

"I believe we will arrive at doubling the trade once again within the next 4-5 years, and this is only the minimum," Putin said at a plenary session of the Russia-Africa business forum in Sochi.

He also said that Russia had already written off African nations' debts worth over $20 billion.

"Many Russian companies have been long cooperating successfully with partners representing various sectors of the African economy, and we intend to increase presence in Africa. We will certainly support these plans, starting from the state level," Putin said.

The two-day Russia-Africa Summit and business forum, co-chaired by the presidents of Russia and Egypt, starts on Wednesday in Russia's Sochi. The Rossiya Segodnya International Information Agency is an official media partner of the event.