"There are a number of areas that Russia could invest in. First, in agroprocessing. Also, investment in high-tech areas, especially defense. Moreover, there is cooperation on railways, aviation, maritime service, high education. So there is a lot of cooperation between us, and Russia does invest, but we want Russia to invest more in South Africa, and to invest in Russia. There are high prospects for investment in high-tech," Magwanishe said.
South Africa wanted to improve its trade and investment relations with Russia, which are "still lagging behind China and India," the deputy trade minister noted.
"We want to improve them, and that’s why we are here [at the forum], to try to promote South Africa," Magwanishe outlined.
SPIEF, held in Russia's second largest city between Thursday and Saturday, is a major global platform for communication between business representatives and discussion of crucial economic issues. Sputnik News Agency is the official media partner of the forum.
