Russia-Africa trade to hit $40bn by 2023 – Afreximbank
The Africa Export-Import Bank (Afreximbank), has expressed optimism that trade between Africa and Russian Federation will increase from the current 22 billion dollars to more than 40 billion dollars in the next three years.
Prof. Benedict Oramah, Afreximbank’s President told newsmen in Moscow that the bank also expects the collaboration between both parties to help improve infrastructure in Africa.
“ The purpose of coming here is to create the opportunity for business relations between Russia and African businessmen and women.
“We expect that this will make it possible for trade to go on, we hope that this will make it possible for investments to go on including infrastructure in Africa.
“We expect that two way trade between africa and Russia should grow from the current level of about 22 billion dollars to more than 40 billion in about three years.
“We expect that given what we know to be the expertise of the Russians, that we will see Russian investments in manufacturing, petrochemical, mining, cyber security, medicine and so on……..read more