S-Africa wants to boost trade with Russia
(MENAFN)
South African Vice President Paul Mashatile has urged Russian companies to invest in South Africa as part of an effort to double trade between the two BRICS members. Speaking in Moscow during a meeting with Russian Prime Minister Mikhail Mishustin on Wednesday, Mashatile emphasized the need to strengthen economic cooperation across sectors such as energy and agriculture.
South African Vice President Paul Mashatile has urged Russian companies to invest in South Africa as part of an effort to double trade between the two BRICS members. Speaking in Moscow during a meeting with Russian Prime Minister Mikhail Mishustin on Wednesday, Mashatile emphasized the need to strengthen economic cooperation across sectors such as energy and agriculture.
“Our markets are open to Russian businesses. They are welcome to come and operate in South Africa,” Mashatile said, according to the Russian government’s transcript of the meeting.
He described South Africa as “the gateway to the African continent,” highlighting that investing in South Africa provides access to a market of over one billion people across Africa.
Mashatile also voiced concerns about the recent decline in trade between the two countries and expressed a strong desire to reverse this trend and boost economic ties.
“We want trade between Russia and South Africa to double,” he stated.
Prime Minister Mishustin reaffirmed Moscow’s commitment to deepening cooperation with South Africa based on strategic partnership, mutual respect, and shared interests. He added that the South African delegation’s visit would help revive business relations and inspire new initiatives for collaboration.
Mashatile’s visit to Russia for the St. Petersburg International Economic Forum (SPIEF) marks his first time attending the event. He was accompanied by a delegation including ministers responsible for agriculture, energy, sports, industry, and infrastructure.
During their discussions, Mashatile also highlighted South Africa’s plans to improve logistics infrastructure, including ports and railways, to support better freight and passenger transport.
Russia and South Africa have maintained diplomatic relations since 1992, with a history of cooperation across various sectors. Earlier this year, Russian President Vladimir Putin and South African President Cyril Ramaphosa reaffirmed their commitment to strengthening bilateral ties during a phone call.
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