Browsing: Africa-Russia relations

Russia and Tanzania
  • Russia and Tanzania are holding trade talks aiming at revamping commercial ties between the two nations.
  • At the moment, Russia projects at doubling trade with Tanzania.
  • Russia to use Tanzania as a single port of entry to access the African market.

Russia has pledged to double current trade value with Tanzania as authorities from the two countries met in Dar es Salaam Tanzania. The pledge was made at the first Russian-Tanzanian Intergovernmental Commission on Trade and Economic Cooperation at the start of the week in Tanzania’s commercial port city where the meeting is being held.

Russian Economic Development Minister Maxim Reshetnikov visited the country along with a delegation of Russian businessmen representing more than 50 Russian companies.

“Based on our estimates, trade between our countries could double,” Mr. Reshetnikov said. “We stand ready to help the Tanzanian economy maintain the high pace that has achieved in the energy, agriculture, infrastructure …

The Russia-Africa Summit 2023
  • The second Russia-Africa Summit is underway in St Petersburg, Russia.
  • The first Russia-Africa summit in 2019 culminated in the signing of 92 agreements, worth over $11 billion.
  • Russia is looking to maintain major trade deals with Africa—a market of 1.3 billion people.

The second Russia-Africa Summit is currently underway in St Petersburg, Russia. This crucial summit taking place on 27th and 28th July has left tongues wagging in the West. The summit has the potential to either further isolate Russia globally or turn the tide and see Africa back Moscow.

How the summit plays out will have very significant outcomes in the determination of the ongoing geopolitical shifts.

$11Bn worth of deals in 2019 Russia-Africa summit

In 2019, Russia and a score of African leaders met for the first Russia-Africa Summit which culminated in the signing of 92 agreements, worth over $11 billion. This time around, with Africa facing a …

World trade is increasingly relying on new technologies to meet demand and Asia is likely to take centre stage in the future of global trade. Photo/WTO

 

World trade is increasingly relying on new technologies to meet demand and Asia is likely to take centre stage in the future of global trade.

Analysts predict Southeast Asia will be the world’s busiest trade area by trade volume.

The International Monetary Fund (IMF) reports that billions of dollars are already been invested in warehouses and distribution centers across with ports investing in automated vehicles and cranes to increase efficiency and cut costs in the long term.

Trade in the modern world is global. Flow of goods, services, capital, people and data connects us all. Value chains of even the smallest of daily consumer products are global. Raw, a raw material from Africa is developed in Asia and consumed in the Americas -, that is the modern world and countries that wish to be competitive must adopt.

However, this view of a ‘world village’ is changing, in the wake