Russia Keywords:, South Africa, trade and economic cooperation
Our magazine's questions are answered by Yu. A. Voinov, Adviser on Trade and Economic Issues at the Russian Embassy in the Republic of South Africa
What is the current state of trade and economic relations between the two countries?
- The volume of trade turnover between Russia and South Africa, according to Russian customs statistics, reached $ 484.1 million in 2008. Russian exports totaled $ 40.3 million, while imports totaled $ 443.8 million. These figures are a record. For example, in 2007, the volume of trade turnover between the two countries was $ 284.4 million.
It is noteworthy that in 2008 alone, the volume of Russian-South African trade almost doubled.
Despite the global financial crisis, the volume of trade continued to be at a high level last year.
The structure of mutual supplies has not changed significantly. The main commodity position of Russian exports in 2008 was ferrous metals. Aluminum and its products, wood, and fertilizers were also supplied. Tools, equipment and mechanical devices, optical and medical devices, etc. were also supplied.
The main position of Russian imports remains fresh fruit. Ores and ferrous metals, inorganic chemical products, fruit and vegetable processing products, alcoholic and non-alcoholic beverages, and a whole range of other goods occupy a significant place in imports.
The growth of mutual trade in recent years is certainly a positive trend, but
these figures do not reflect the full potential available. In addition, there are certain difficulties, which is a consequence of the intense competition unfolding in the markets of African countries.
- How did Russian-South African trade relations begin and develop?
- After the Second World War, the USSR and the Union of South Africa (UAC) enjoyed stable, albeit limited, trade relations. In the 1950s, South Asia consistently ranked as the leading trade partner of the USSR on the African continent after Egypt ... Read more