Minister of International Relations and Cooperation Naledi Pandor has called for fair trade and said that the world cannot be held hostage by one system.
She said the world financial systems and institutions must not be politicised. But there must be fairness in world trade.
There must also be diversity in the financial system around the world.
President Cyril Ramaphosa arrived in St Petersburg on Wednesday to join other leaders from Africa.
The Russia-Africa summit is held every three years.
Ramaphosa is expected to meet Putin on the sidelines of the summit to discuss the Ukraine war, trade, and the BRICS gathering.
But Pandor, who was speaking to Russia Today ahead of the Russia-Africa summit in St Petersburg on Thursday, said the world cannot be tied to one system or currency.
The world cannot afford to be held hostage.
“We need to have greater fairness in world trade, and we need to ensure again that financial systems and institutions are not politicised to a level that they become a barrier to trade. Having greater diversity is extremely important because once you attach to one currency or one system, you then become somewhat of a hostage, and that is what we have got to end. We have to have fair trade, proper systems, and financial security, but you can’t be tied to one, and the moment is probably now to consider alternatives,” said Pandor.
The minister also said Africa has a special relationship with Russia that has been built over many years.
Russian president Vladimir Putin said Africa and Moscow have a relationship dating back many years ago.
He said Russia has never tried to impose itself, policies, or programmes on Africa.
“The partnership relations between our country and Africa have strong, deep roots and have always been distinguished by stability, trust, and goodwill. We have consistently supported African peoples in their struggle for liberation from colonial oppression. We have provided assistance in developing statehood, strengthening their sovereignty and defence capability. Much has been done to create sustainable foundations for national economies," said Putin this week.
He added that trade between Russia and Africa is now $18 billion, and they will grow that.
Putin said Russian companies wanted to be involved in more trade relations with Africa in the energy and fuel industries including nuclear power, mining and manufacturing, agriculture and other sectors of the economy.
He added that last year Russia exported 11.5 million tonnes of grain to Africa, and more than 10 million tonnes of grain have already been delivered since the beginning of the year.
The grain deal was cut off because certain commitments were not, he said.
Pandor also said the relationship between Russia and Africa was been built over decades.
She added that Russia played a key role in the liberation Struggle in South Africa.
Pandor accused other countries of using the United Nations for political purposes.
siyabonga.mkhwanazi@inl.co.za
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