Egyptian Minister: trade between Russia and Egypt has growth potential

Egyptian Minister: trade between Russia and Egypt has growth potential


The trade turnover between the two countries in 2014 increased by 86 percent compared to the previous year, not including military cooperation, said Tarik Kabil.

CAIRO, 2 APR –. The volume of trade between Russia and Egypt remains modest, but has great potential for growth, said on Monday the Minister of industry and trade of Egypt Tarik Kabil.

“The volume of trade between Egypt and Russia in 2014 increased by 86% compared with the previous year, not including military cooperation, but I think the potential is much more from the real situation. Also modest and the volume of investment, and that we will speak on the negotiations tomorrow,” the Minister said at a solemn reception on the occasion of the opening of the Russian-Egyptian business forum in Cairo.

The second Russian-Egyptian business forum kicked off Monday in Cairo. In the Russian delegation at the event, according to the Chairman of the Russian-Egyptian business Council Mikhail Orlov, representatives of about 100 companies.

The business forum is held within the framework of the tenth meeting of the Russian-Egyptian intergovernmental Commission on trade and economic cooperation, which began its work Sunday in Cairo. In the work of the Commission the sides plan to sign several documents, the most important of which will be the Protocol on the establishment of a Russian industrial zone in the Suez canal area and the agreement between the Russian direct investment Fund (RDIF) and a number of Egyptian banks to find financing instruments and investment projects.