Mauritania, Russia Sign MoU To Boost Economic Cooperation

On July 30 via videoconference, Mr. Abdallahi Ould Souleymane Ould Cheikh Sidiya, Mauritania’s Minister of Economy and Development, and Mr. Maxim Reshetnikov, Russia’s Minister of Economic Development, signed a memorandum of understanding (MoU) aimed at strengthening economic cooperation, promoting investment, and expanding trade between the two countries.
The MoU is designed to stimulate investment, encourage business partnerships, and facilitate dialogue between the business communities, chambers of commerce, and investment institutions of both countries.
Speaking on the occasion, Minister Abdallahi Ould Souleymane Ould Cheikh Sidiya described the agreement as an important milestone in strengthening the longstanding relations between Mauritania and the Russian Federation.
He noted that since 2019, Mauritania has embarked on an ambitious economic transformation in line with the vision of President Mohamed Ould Cheikh El Ghazouani, implemented by the government of Prime Minister El Moctar Ould Djay. The reform agenda seeks to diversify the national economy, improve the business climate, enhance the value of the country’s natural and human resources, and strengthen international partnerships that generate added value.
The minister also reaffirmed Mauritania’s commitment to providing a stable, transparent, and attractive investment environment.
For his part, Russian Minister of Economic Development Maxim Reshetnikov said his country’s primary objective in the next phase is to strengthen and diversify trade with Mauritania. He identified agriculture, geological exploration, mining, energy, and fisheries as key sectors with strong potential for bilateral cooperation.