Egypt mulls setting up shipping line to boost exports to Russia

Egypt is studying the creation of a shipping line linking the country with Russian ports, helping to double its exports to Russia, Egyptian Minister of Trade Tarek Qabil announced Thursday.

The idea is particularly appealing, said Qabil, since most of Egypt’s exports to Russia are agricultural products that require quick and efficient transportation.

Egypt’s Agricultural Export Council and the Food Export Council have been tasked with conducting a feasibility study for such as shipping line, complete with a financial analysis of the project and its benefits.

The study will be conducted in cooperation with various export councils interested in the Russian market, said the minister, speaking at a meeting Thursday.

Also present at the meeting were Egypt’s Minister of Agriculture Essam Fayed, Transport Minister Galal al-Saeed, and representatives of ministries of Foreign Affairs, International Cooperation, and Civil Aviation.