S-Africa wants to increase trade with Russia
(MENAFN)
South African Vice President Paul Mashatile has called on Russian businesses to invest in South Africa as part of an effort to double trade between the two BRICS countries. Mashatile made the appeal during a meeting with Russian Prime Minister Mikhail Mishustin in Moscow on Wednesday, where they discussed expanding cooperation in sectors such as energy and agriculture.
South African Vice President Paul Mashatile has called on Russian businesses to invest in South Africa as part of an effort to double trade between the two BRICS countries. Mashatile made the appeal during a meeting with Russian Prime Minister Mikhail Mishustin in Moscow on Wednesday, where they discussed expanding cooperation in sectors such as energy and agriculture.
“Our markets are open to Russian companies, and they are welcome to do business in South Africa,” Mashatile said, according to the Russian government’s official transcript. He highlighted South Africa’s position as a gateway to the African continent, offering access to a market of one billion people.
Expressing concern about the recent decline in trade between the two nations, Mashatile emphasized Pretoria’s eagerness to strengthen economic ties and reverse this trend. “We want to double trade between Russia and South Africa,” he stated.
Prime Minister Mishustin emphasized Moscow’s commitment to deepening the strategic partnership with South Africa, valuing the trust and constructive dialogue between the countries. He expressed optimism that Mashatile’s visit and discussions would restore business ties and generate new initiatives to enhance bilateral cooperation.
Mashatile is in Russia to attend the St. Petersburg International Economic Forum (SPIEF), accompanied by ministers and deputy ministers responsible for agriculture, energy, sports, industry, and infrastructure. He noted that his attendance marks South Africa’s dedication to boosting trade with Russia.
“We also aim to improve logistics in our ports and upgrade our railway network for both freight and passengers, which is part of the reason for our visit,” Mashatile explained.
South Africa and Russia have maintained diplomatic relations since 1992, with longstanding collaboration in multiple fields. In April, Russian President Vladimir Putin and South African President Cyril Ramaphosa reaffirmed their commitment to enhancing bilateral cooperation during a phone call.
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