OREANDA-NEWS  Russian companies have become interested in moving part of their production to Africa due to sanctions. This was stated by Russian President Vladimir Putin, quoted by RIA Novosti.

During the Russia—Africa summit, the head of state stated that investment, infrastructure, agriculture, energy, education, and market access were priorities for the development of Russian-African relations.

"You know, I won't say anything unexpected, but this fully corresponds to Russia's interests, especially in today's conditions, when numerous sanctions are applied to the Russian economy and Russian enterprises. Our companies are simply interested in moving certain industries to African countries, there is a mutual interest," he explained.

Vladimir Putin said that Russian companies are interested in moving part of their production to African countries because of the sanctions.

In turn, Africa's desire to receive income from the industries organized on its territory and create added value is also natural and organic, and Africa does not require anything special for itself here. According to the president, the initiative of the countries of the continent to keep production facilities on their territory as much as possible and to open jobs should be supported.

At a meeting with his Egyptian counterpart Abdel Fattah al-Sisi, Vladimir Putin noted that Russia's trade with African countries is growing — its total volume has increased by one and a half times since 2022, reaching $ 27 billion.
Citing relevant data, Putin noted that Egypt accounts for a significant part of this trade turnover.