Putin Touts 50 Percent Surge in Russia-Africa Trade
(MENAFN) Russian President Vladimir Putin said Wednesday that commerce between Moscow and Cairo is “growing steadily” despite regional tensions, as he hosted Egyptian President Abdel Fattah al-Sisi in the Russian capital.
The talks took place on the sidelines of the Russia-Africa summit, a two-day gathering in Moscow that opened earlier the same day. In his opening remarks, Putin said the partners have achieved a great deal since the inaugural summit in 2019, pointing to rising trade between Russia and the continent as evidence.
“Since 2022, the total volume has increased by 50%, surpassing $27 billion. Egypt accounts for a significant portion of this trade turnover,” he said. He added that Russia and Africa share much “common ground” on development priorities.
Putin cites record Egypt trade, flagship nuclear project
Putin said the leaders and their delegations would assess the state of Russia-Africa ties and chart new areas of cooperation in plenary sessions Thursday. He cited the two countries’ contacts on the margins of last month’s BRICS summit in New Delhi.
“The historic relationship between our two countries is rooted in the principles of mutual respect, consideration for each other’s interests and mutual assistance. These relations are developing successfully in accordance with the Treaty on Comprehensive Partnership and Strategic Cooperation,” he said
Bilateral trade turnover rose 14% in the first eight months of 2026, Putin said, extending a run of growth.
“In 2025, it reached record levels, exceeding $10 billion for the first time,” he said, crediting the joint intergovernmental commission between the two countries.
He also pointed to progress on the El Dabaa nuclear plant in Egypt.
“The flagship project, the construction of the El Dabaa Nuclear Power Plant in Egypt, is proceeding according to schedule. On July 9, a formal ceremony was held to mark the installation of the reactor pressure vessel for the second power unit,” he added.
Sisi seeks wider cooperation, nuclear expansion
Sisi said Cairo is working to deepen the strategic partnership and wants to expand cooperation chiefly in the economy and trade, as well as in grain supplies.
“Furthermore, the El Dabaa project remains the most significant initiative in our bilateral engagement,” he said. Egypt is committed to finishing the project on the agreed timeline, he noted, and is making “every effort” to meet its payment obligations.
He said he is counting on the Russian leader’s backing to deliver El Dabaa on schedule.
“We look forward to strengthening and broadening our cooperation. This includes the potential for installing new power units beyond 2030 as well as the development of a research reactor and a testing center,” he said.
Sisi added that Egypt is also keen to work with Russia on small-scale nuclear reactors, including floating nuclear power units, and to deepen ties in specialized industrial sectors such as uranium and rare-metals extraction.
Putin meets Ethiopia’s Abiy on nuclear, trade
Later Wednesday evening, Putin met Ethiopian Prime Minister Abiy Ahmed, telling him that Russia and Ethiopia “stand in solidarity on international affairs.”
“We have established a dialogue within the UN, BRICS and other multilateral platforms ... Tomorrow, we will participate together in the summit’s main events. Russia fully supports Africa’s emergence as one of the key centers within the new, multipolar global order,” Putin was quoted as saying in a Kremlin statement.
Putin said the sides will prioritize expanding trade and economic cooperation with African nations, securing food and energy supplies and advancing health care.
“At the conclusion of the summit, we will adopt a declaration and a new action plan for the Russia–Africa Partnership Forum for the 2027–2029 period,” he added.
Abiy, for his part, spotlighted bilateral cooperation in the nuclear field and said financing and training for Ethiopian engineers and regulators must be addressed.
“I propose that we formalize an agreement regarding our collaboration in the nuclear sector, establishing it as a priority area for our joint efforts,” he said. He noted that nuclear energy extends beyond power generation and offers Ethiopia significant potential and great opportunities.
“We are very pleased with our cooperation with Russia, and I believe that our bilateral trade will continue to grow. Trade has already increased this year, and this trend is set to continue. We would like to see Ethiopian goods reach the Russian market. Provided there are no obstacles on your end, we are keen to expand our exports to your country,” he added.
The talks took place on the sidelines of the Russia-Africa summit, a two-day gathering in Moscow that opened earlier the same day. In his opening remarks, Putin said the partners have achieved a great deal since the inaugural summit in 2019, pointing to rising trade between Russia and the continent as evidence.
“Since 2022, the total volume has increased by 50%, surpassing $27 billion. Egypt accounts for a significant portion of this trade turnover,” he said. He added that Russia and Africa share much “common ground” on development priorities.
Putin cites record Egypt trade, flagship nuclear project
Putin said the leaders and their delegations would assess the state of Russia-Africa ties and chart new areas of cooperation in plenary sessions Thursday. He cited the two countries’ contacts on the margins of last month’s BRICS summit in New Delhi.
“The historic relationship between our two countries is rooted in the principles of mutual respect, consideration for each other’s interests and mutual assistance. These relations are developing successfully in accordance with the Treaty on Comprehensive Partnership and Strategic Cooperation,” he said
Bilateral trade turnover rose 14% in the first eight months of 2026, Putin said, extending a run of growth.
“In 2025, it reached record levels, exceeding $10 billion for the first time,” he said, crediting the joint intergovernmental commission between the two countries.
He also pointed to progress on the El Dabaa nuclear plant in Egypt.
“The flagship project, the construction of the El Dabaa Nuclear Power Plant in Egypt, is proceeding according to schedule. On July 9, a formal ceremony was held to mark the installation of the reactor pressure vessel for the second power unit,” he added.
Sisi seeks wider cooperation, nuclear expansion
Sisi said Cairo is working to deepen the strategic partnership and wants to expand cooperation chiefly in the economy and trade, as well as in grain supplies.
“Furthermore, the El Dabaa project remains the most significant initiative in our bilateral engagement,” he said. Egypt is committed to finishing the project on the agreed timeline, he noted, and is making “every effort” to meet its payment obligations.
He said he is counting on the Russian leader’s backing to deliver El Dabaa on schedule.
“We look forward to strengthening and broadening our cooperation. This includes the potential for installing new power units beyond 2030 as well as the development of a research reactor and a testing center,” he said.
Sisi added that Egypt is also keen to work with Russia on small-scale nuclear reactors, including floating nuclear power units, and to deepen ties in specialized industrial sectors such as uranium and rare-metals extraction.
Putin meets Ethiopia’s Abiy on nuclear, trade
Later Wednesday evening, Putin met Ethiopian Prime Minister Abiy Ahmed, telling him that Russia and Ethiopia “stand in solidarity on international affairs.”
“We have established a dialogue within the UN, BRICS and other multilateral platforms ... Tomorrow, we will participate together in the summit’s main events. Russia fully supports Africa’s emergence as one of the key centers within the new, multipolar global order,” Putin was quoted as saying in a Kremlin statement.
Putin said the sides will prioritize expanding trade and economic cooperation with African nations, securing food and energy supplies and advancing health care.
“At the conclusion of the summit, we will adopt a declaration and a new action plan for the Russia–Africa Partnership Forum for the 2027–2029 period,” he added.
Abiy, for his part, spotlighted bilateral cooperation in the nuclear field and said financing and training for Ethiopian engineers and regulators must be addressed.
“I propose that we formalize an agreement regarding our collaboration in the nuclear sector, establishing it as a priority area for our joint efforts,” he said. He noted that nuclear energy extends beyond power generation and offers Ethiopia significant potential and great opportunities.
“We are very pleased with our cooperation with Russia, and I believe that our bilateral trade will continue to grow. Trade has already increased this year, and this trend is set to continue. We would like to see Ethiopian goods reach the Russian market. Provided there are no obstacles on your end, we are keen to expand our exports to your country,” he added.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment