Report: Russia says may double trade with Africa by 2030

MOSCOW, Jul 27 (PRIME) -- Russia may more than double trade with Africa by 2030 from the current U.S. $18 billion, Economic Development Minister Maxim Reshetnikov told channel Rossiya 24 on Thursday.

"Africa is 1.5 billion people now, it will be 1.7 billion people by 2030 and 3 billion people by 2100, according to the demographers. This is a vast market, a growing market at that… Our goal is to at least double the trade turnover by 2030," Reshetnikov said, adding that the African states consume the goods that Russia produces, including food, fertilizers and vehicles.

He said that agreements on a free trade zone are seen as the key area of efforts to raise trade. Transition to the national currencies, including the ruble, and connection of African banks to a messaging system are also important challenges.

End