Russian Arms Exporter Rosoboronexport Says Africa's Share In Orders Nearing 20%

ST. PETERSBURG (UrduPoint News / Sputnik - 27th July, 2023) The share of African countries in Russian state arms exporter Rosoboronexport's order portfolio is now almost 20%, and this figure is expected to increase after the Russia-Africa Summit, Alexander Mikheev, the company's director general, told Sputnik on Thursday.

"The company's order portfolio has been stable at a high level for the last several years. Slight fluctuations in its level are justified by the dynamics of our work � signed and executed contracts. The share of African countries in the portfolio today is close to 20%, and we expect this indicator to grow as a result of the Russia-Africa Summit in St.

Petersburg," Mikheev said on the sidelines of the summit.

He recalled that after the first summit of 2019 in the Russian city of Sochi, Rosoboronexport signed more than 150 contracts with African countries, increasing its order portfolio by $10 billion.

On average, Rosoboronexport's order portfolio in recent years has been about $50 billion.

The second Russia-Africa Summit is taking place in the Russian city of St. Petersburg from July 27-28. Summit participants are expected to sign a number of international and bilateral documents, the Kremlin said.