Russian President, Vladimir Putin began a summit with African leaders on Wednesday in the Sochi, Russian as his country looks to double trade with the continent in the next five years.
“I believe that it is fully within our power to double the volume of trade in the next four or five years as a minimum,’’ Putin said in a speech at the plenary session of the Russia-Africa Summit.
Putin said trade had already more than doubled over the past five years to more than 20 billion dollars, an amount he considered too small.
About a third of that amount, seven billion dollars is from trade with Egypt, according to Putin’s comments earlier in the day during a meeting with Egyptian President Abdel-Fattah al-Sissi.
Al-Sissi currently holds the rotating chairmanship of the African Union, a pan-continental organisation designed to strengthen ties between African countries.
The Kremlin expected the majority of Africa’s leaders to attend the two-day summit.
“Heads of state and government of 43 African countries will attend,’’ Kremlin aide Yury Ushakov said earlier this week.
The United Nations recognises 54 countries in Africa and the African Union recognszes 55.
