South Africa seeks to double trade with Russia
South African Vice President Paul Mashatile has invited Russian companies to invest in his country as part of a push to 'double' trade turnover between the two BRICS nations.
The vice president made the appeal during a meeting with Russian Prime Minister Mikhail Mishustin in Moscow on Wednesday, where the two officials discussed deepening bilateral cooperation across a range of sectors, including energy and agriculture.
'Our markets are open to Russian enterprises, companies. They can come to our country and do business in South Africa,' Mashatile said, according to a transcript of the meeting published on the Russian government's website.
'We believe that South Africa is the gateway to the continent of Africa. And once you come to our country, you have markets of a billion people, if we are talking about the entire continent,' he added.
Mashatile expressed concern over the decline in trade between South Africa and Russia in recent years, adding that Pretoria is eager to deepen economic ties with Moscow and reverse the trend.
'We want trade between Russia and South Africa to double,' he stated.
The Russian prime minister told Mashatile that Moscow places great importance on deepening cooperation with Pretoria, guided by the principles of strategic partnership, mutual respect, and shared interests.
'We highly value the trusting and meaningful dialogue with the Republic of South Africa,' Mushustin said, adding that Mashatile and his team's visit to Russia will help restore business ties and spark new ideas and initiatives to further strengthen bilateral cooperation.
The South African vice president is visiting Russia to attend the St. Petersburg International Economic Forum (SPIEF), accompanied by a delegation of eight ministers and deputy ministers in charge of agriculture, energy, sports and physical education, industry, and infrastructure development.
Mashatile told Mishustin during their meeting that he is attending the SPIEF for the first time, adding that his visit reflects South Africa's commitment to boosting trade ties with Russia.
'We also want to improve logistics in our ports. Also improve our railway network, which carries both freight and passengers… That is why we came to Russia to discuss these issues, including with you,' the official said.
Pretoria and Moscow have maintained diplomatic relations since 1992, with longstanding cooperation in several areas.
During a phone call in April, Russian President Vladimir Putin and South African President Cyril Ramaphosa reaffirmed their commitment to strengthening bilateral cooperation.
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