Moscow/Nouakchott – Russia and Mauritania have taken a significant step toward deepening their bilateral economic ties with the signing of a strategic Memorandum of Understanding (MoU) aimed at boosting trade, investment, and sectoral cooperation between the two nations.
The agreement was signed on July 30 via videoconference by Russia’s Minister of Economic Development Maksim Reshetnikov and Mauritania’s Minister of Economy and Sustainable Development Abdallahi Sheikh Sidiya. The ceremony was attended by Mauritania’s Ambassador to Russia, Ismail Ould Abdel Fattah, from Moscow, while the Mauritanian minister was joined by senior officials from his department in Nouakchott.
A Framework for Expanded Cooperation
The memorandum is designed to promote trade turnover and establish a systematic exchange of information in the economic and investment spheres. Both parties agreed to create a consultative mechanism to coordinate joint actions and facilitate regular dialogue between business circles, chambers of commerce and industry, and investment institutions of the two countries.
Speaking at the signing ceremony, Minister Sidiya described the memorandum as a “significant milestone in strengthening the historic relations between Nouakchott and Moscow”. He noted that Mauritania has been pursuing an ambitious economic transformation program since 2019 under the vision of President Mohamed Ould Cheikh El Ghazouani, aimed at diversifying the national economy, improving the business climate, enhancing natural and human resources, and strengthening international partnerships that generate added value. Sidiya reaffirmed Mauritania’s commitment to providing a stable, transparent, and attractive investment environment.
Promising Sectors for Bilateral Cooperation
Minister Reshetnikov emphasized that strengthening and diversifying trade relations with Mauritania is a key priority for Russia in the coming period. He identified agriculture, geological exploration, mining, electric power, and fisheries as promising areas for bilateral cooperation.
Fisheries cooperation holds particular significance, with both parties highlighting it as a long-standing area of partnership developed over more than 50 years. The sector already forms the backbone of Mauritanian exports to Russia. Discussions on specific projects in fisheries are expected to continue in the near future.
Trade Growth on the Rise
The memorandum comes amid rapidly growing trade between the two countries. In 2025, bilateral trade turnover increased by 24%, with Russian exports rising by 23% and imports from Mauritania by 33%. Russian exports are primarily composed of fertilizers, oil, and petroleum products, while fish remains the main import commodity from Mauritania.
The momentum has accelerated further in 2026: during January-April alone, mutual trade turnover surged by 66%, driven largely by the resumption of Russian exports of dairy products and increased fish supplies.
The MoU establishes a foundation for interagency consultations on economic and investment cooperation and is expected to open new opportunities for Russian businesses in Mauritania while supporting the internationalization of the Mauritanian economy.
