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Russian-Egyptian economic relations are highly dynamic and bilateral trade reaches one billion U.S. dollars
Russian-Egyptian economic relations are highly dynamic and bilateral trade reaches one billion U.S. dollars, the deputy president of the Russian Chamber of Commerce and Industry, Georgy Petrov, said at the two countries’ business forum on Thursday. “For time being Russia’s export is above import. It is necessary to diversify bilateral trade,” he said. Petrov said the meeting between Russian and Egyptian businesses is of special importance on the eve of the Egyptian president’s visit to Moscow in early November. “We consider this forum as synchronization of watches on the eve of the high-level meeting, where stronger economic relations will top the agenda,” he said. “Our countries should tap all opportunities for deeper economic and trade cooperation,” Egyptian Trade and Industry Minister Rashid Muhammad Rashid said. “It is necessary to raise the level of economic relations equal to political ones.” Among the priority areas of cooperation Rashid mentioned energy, textile industry, aircraft and machine-building, pharmaceutics and banking sector. He called on Russian companies to invest into the Egyptian economy.
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