African leaders return from Russia with agreements to boost military
Russia's President Vladimir Putin and Egypt's President Abdel Fattah al-Sisi make a press statement following the 2019 Russia-Africa Summit at the Sirius Park of Science and Art in Sochi, Russia, on October 24, 2019. PHOTO | SERGEI CHIRIKOV | AFP
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.
