(MENAFN) Guinea-Bissau’s President, Umaro Sissoco Embalo, hailed Russia as a "reliable partner" during his meeting with Russian President Vladimir Putin in Moscow on Thursday. Embalo expressed gratitude for Russia increasing its quota for military personnel, police officers, and students from Guinea-Bissau, adding that Russian companies are showing interest in furthering ties with the country.

Putin highlighted a 10% growth in trade between Russia and African countries in 2024, emphasizing the importance of strengthening economic relations with Africa. He noted the growing interest from Russian companies in African markets.

Andrey Maslov, head of the Center for African Studies in Moscow, noted that Guinea-Bissau, a fast-growing economy in West Africa, seeks investment in infrastructure and industries like cashew nuts, seafood, and timber, which are still in early commercialization stages.

The meeting followed the signing of a memorandum between the two countries to enhance economic, trade, and investment cooperation. Russian Minister of Economy Maxim Reshetnikov and Guinea-Bissau’s Minister of Economy, Planning, and Regional Integration, Soares Sambu, signed the agreement. It aims to foster regular dialogue between the business communities and address trade and regulatory challenges.

Earlier in January, Putin and Embalo discussed further cooperation in trade, investment, and humanitarian areas during a phone conversation.

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