Russian President Vladimir Putin says there are ‘promising spheres of cooperation’ for Russia and South Africa to expand their trade relations.

President Putin was delivering remarks during the bilateral meeting between the two countries held on the sidelines of the BRICS Summit in Kazan, Russia. The meeting was also addressed by President Cyril Ramaphosa.

The BRICS Summit, held from 22 – 24 October, is a platform for the bloc’s leaders to reflect on the status of mutually beneficial BRICS cooperation, regional and global economic and political developments, as well as global governance reform.

READ | SA, Russian Presidents meet ahead of significant BRICS Summit

‘Trade and economic ties between Russia and the Republic of South Africa are generally positive. Following a brief dip, mutual trade volumes have started to increase, rising by 3% in January – August 2024.

‘Of course, we need to work jointly on some aspects in order to expand and diversify mutual trade and investment. Promising spheres of cooper
ation include energy, industry, agriculture, science and innovation,’ President Putin said.

He hailed the bilateral relations between South Africa and Russia as those based of ‘mutual respect’.

‘The relevant agencies of our countries collaborated in the financial sector to expand the use of national currencies in mutual settlements and to create an independent payment system.

‘Our bilateral relations are based on the principles of a comprehensive strategic partnership, equality and mutual respect. Our political dialogue is progressing, and our foreign policy departments and security councils are actively communicating. Interparliamentary cooperation has been established.

‘Russia and the Republic of South Africa closely coordinate their efforts on the international stage to establish a fair multipolar world order,’ he said.

On relations with the African continent, President Putin called for stronger relations between the European country and countries in Africa.

‘Russia attaches special significance to s
trengthening relations with African countries. Collaborative work is underway to implement joint agreements approved at the Russia-Africa Summit in St Petersburg, notably a declaration and an action plan, until 2026.

‘We look forward to hosting the head of your foreign policy agency in Sochi for the first ministerial conference of the Russia-Africa Partnership Forum, scheduled for November 9 – 10,’ he said.

Turning to the Summit, President Putin said as host country, Russia has ‘built our work taking into account the results achieved at the Johannesburg summit’.

South Africa played host to the Summit in 2023.

This year, the leaders of Brazil, China, Egypt, Ethiopia, India, Iran, Russia, South Africa and the United Arab Emirates are meeting for the first time since new members were invited to join BRICS during the Johannesburg II BRICS Summit of 23 August 2023.

‘Our focus has been on the seamless integration of new participants into the multi-level architecture of BRICS. In close contact with our South Af
rican friends, we have worked on coordinating the modalities for establishing the partner state status,’ he said.

Source: South African Government News Agency