Trade: Russia and Egypt were able to preserve the physical volume of trade

Trade: Russia and Egypt were able to preserve the physical volume of trade


According to the results, the value of trade turnover between Russia and Egypt may be 3.5-4 billion, said trade representative of the Russian Federation in Egypt Fedor Lukashin.

MOSCOW, 16 Nov. Physical volume of trade turnover between Russia and Egypt by the end of 2015 remained at the same level, despite the decline in exchange rates of national currencies to the dollar, said in an interview with trade representative of the Russian Federation in Egypt Fedor Lukashin.

“The physical volumes of bilateral trade, in General, as long withstand this pressure. For example, the physical volume of Egyptian selkhoztechnica in Russia increased by 13 thousand tons,” — said Rustamyan.

In his opinion, “this trend suggests that countries are still interested in the development of trade transactions with each other”.

This is also evidenced by the increase in the number of requests received by the trade delegation from both parties, said Rustamyan. “The flow of trade increased compared with 2014 already doubled. Is and incoming requests from the Egyptian companies, organizations, ministries, and requests from Russian companies and departments”, — said the trade representative.

The change in exchange rates of national currencies of both countries against the dollar negatively impacted the value terms of trade, which declined in the first three quarters of 2015, about 25%, said Rustamyan. “It is the result of reduction of courses of the Belarusian ruble and the Egyptian pound against the dollar. The price of oil drops, and, correspondingly, reduced cost of Russian export oil products. The pound fell during the year by 60 cents, and a decline in the value of Egyptian agricultural products being taken to Russia”, — said the trade representative.

According to Lukashina, the value of trade turnover between Russia and Egypt for the year can be 3.5-4 billion, whereas a year earlier it reached a record for the Russian-Egyptian relations mark 5.5 billion.

The main articles of Russian exports to Egypt in 2015 is oil products and grain, the basis of Egyptian exports to Russia is agricultural produce — primarily potatoes and oranges, said the trade representative.