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The Russian President, Vladimir Putin, has been holding discussions with the President of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, in Moscow. Equatorial Guineas currently holds the Presidency of the Economic Community of Central African States (ECCAS).
The Kremlin said the agenda for the talks “includes prospects for the further development of Russian-Equatoguinean relations in various areas as well as topical international and regional issues.” It will be Mbasogo’s third visit to Russia and the second in the past two years. In November 2023, the two leaders held full-format talks, focusing on bilateral cooperation and the development of Russia’s ties with Central African countries.
Back then, Putin suggested focusing on expanding trade and economic ties, adding that Russian companies have significant interest in working in Africa in general and in Equatorial Guinea in particular. In his opinion, the African country has “great potential investment opportunities,” especially in the context of natural resource extraction.
This year, Moscow and Malabo are marking the 56th anniversary of establishing diplomatic relations.
Russian research vessels are currently engaged in the ‘Great African Expedition’ to assess fish stocks in the West African Atlantic Ocean, with Equatorial Guinea taking part in the exercise. Russia is looking to replace European supplies and is also looking to invest in African ports and processing factories.
In terms of the ECCAS, this is a free trade area and includes Equatorial Guinea in addition to Angola, Burundi, Cameroon, the Central African Republic, Chad, the Democratic Republic of the Congo, Gabon, the Republic of the Congo, Rwanda, and São Tomé and Príncipe.
Russia established maritime port agreements with São Tomé and Príncipe earlier this week, while the ECCAS region as a whole has a population of 200 million and a GDP of about US$758 billion – roughly 25% of the African total.
All ECCAS members except the Central African Republic are heavily dependent upon oil revenues, with Russia’s interests concentrating on the energy sector. Interestingly, the talks between Putin and Mbasogo are taking place in the format of a bilateral meeting within the framework of the Russian Energy Week, a discussion platform for discussing trends in the development of the global fuel and energy complex, which is attended by BRICS and other heads of state and government, representatives of major international energy companies and industry leaders.
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