Russian President Vladimir Putin said at the Russia–Africa summit currently taking place in Moscow that his country, hit by Western sanctions, is interested in relocating some of its factories to Africa, EFE reported on Thursday, as cited by Agerpres.
“What I’m about to say is nothing out of the ordinary, given that this is in line with Russia’s interests, especially under the current circumstances, with the Russian economy and Russian companies facing numerous sanctions. Quite simply, our companies are interested in relocating some of their production facilities to African countries. This is a mutual interest,” the Russian leader said.
Putin, who criticized “Western colonial practices,” said that Russian businesspeople operate in Africa on an equal footing.
“Our business community always approaches cooperation with African partners with honesty, respect and integrity, and does business on an equal footing. Rather than seeking profits through the colonial practices of former imperial powers, they invest and use the income they earn to develop their countries’ economies,” the Russian president said.