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South Africa and Russia Agree to Boost Trade and Investment at St. Petersburg Forum

South African Deputy President Paul Mashatile met with Russian President Vladimir Putin on the sidelines of the St. Petersburg International Economic Forum (SPIEF) on Thursday, where both leaders committed to strengthening economic ties between their nations.

Putin emphasized that Russia views cooperation with African countries as a key priority, noting that trade turnover between Russia and South Africa grew by 2% last year. “The St. Petersburg International Economic Forum is a good platform to bolster partnerships,” he said during the meeting.

Before his discussion with Putin, Mashatile delivered a public lecture at St. Petersburg State University, where he described Russia as both a “strategic partner and a historic friend” of South Africa. He also highlighted South Africa’s G20 presidency, themed “Solidarity, Equality, and Sustainability,” and called for greater global collaboration to address pressing challenges such as geopolitical tensions, trade wars, inequality, poverty, armed conflicts, and climate change.

Additionally, Mashatile welcomed educational initiatives between the two countries, including the establishment of Russian language centers in South African universities and the expansion of African studies departments in Russian institutions.

The meeting signals a continued effort to deepen economic and diplomatic relations between South Africa and Russia, despite ongoing global tensions. Both leaders expressed optimism about expanding trade and investment opportunities in the coming years.