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Russia – Guinea 2024 Trade & Development

Russia’s Foreign Minister Sergey Lavrov has arrived in Guinea, West Africa, where he will begin a new African tour. Lavrov is scheduled to meet with Mamady Doumbouya, the interim President since 2021. He came to power after a military coup, in similar circumstances to other recent activities in what were previously French colonies. Meetings will take palace in the capital, Conakry.

Several African nations, including Niger and Mali have expressed dissatisfaction with trade agreements reached with Paris. All are seeking security and military assistance from Russia.  

The Russian Foreign Ministry issued a statement on the visit, saying that “Russian-Guinean relations are friendly. There is an active political dialogue.” On July 27, 2001, a declaration on the principles of friendly relations and partnership between Russia and Guinea was signed in Moscow. Since 2002, the Russian-Guinean intergovernmental commission on economic, scientific, technical and trade cooperation has been working. In 2017, during a meeting between Russian State Duma Chairman Vyacheslav Volodin and Guinea’s President Alpha Conde, a Russian-Guinea interparliamentary commission was established.

Russia’s foreign trade with Guinea is small and has reached about US$200 million. However, Guinea has a population of 14 million and an area of 245,857 square kilometres, including Atlantic Ocean access. Lavrov will be looking to boost commercial fishing as Russia looks to replace European Atlantic Ocean supplies.  It is primarily an agricultural economy, with Russian fertilizer imports also being a potential trade win. Guinea also has about 25% the world’s known bauxite reserves, a major source of aluminium. It also has diamonds, gold, and other metals. Bauxite and alumina are the major exports.

Guinea is a member of the African Union, Agency for the French-Speaking Community, African Development Bank, Economic Community of West African States, World Bank, Islamic Development Bank, IMF, and the United Nations.

Further Reading

Russia-Africa 2024 Trade & Development

Russia’s trade and investments in Africa are extensively discussed in our 2024 Russia’s Pivot To Asia guide. This is a complimentary download and can be accessed in English here and Russian here

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