Cairo, Moscow sign trade cooperation protocol

The Cairo Chamber of Commerce inked on Tuesday a cooperation protocol with a Russian trade delegation to boost investments, trade cooperation and economic relations between the two sides.

The move was taken during a meeting between the chamber officials and members of the Russian delegation in Cairo with the aim of promoting joint investments.

Vice Chairman of the Cairo Chamber of Commerce Ibrahim El Araby said Egypt has taken effective economic reform measures and other measures that seek to lure investments.

The remarks were part of Araby’s speech that was delivered by member of the chamber’s board of directors Sameh Zaki.

The measures included liberating the exchange rate, restructuring the subsidy system as well as working to lure more foreign investments and reform the country’s legislative environment to improve investment climate, he indicated.

Araby said Egypt-Russia relations are historic at all political, cultural, trade and economic levels, noting in this regard that Moscow is a strategic partner to Cairo at the international level.

Meanwhile, members of the Russian delegation expressed their keenness to foster trade, investment and economic relations with Egypt in various fields.

Source: MENA