Egypt to host 12th round of Egyptian-Russian joint committee mid-April

Egypt is set to host the 12th round of the Egyptian-Russian joint committee for trade, economic, scientific and technical cooperation on mid-April, Minister of Trade and Industry Amr Nassar said.

The meetings will discuss means of bolstering cooperation between Egypt and Russia in the fields of trade, industry, health, tourism, education, information technology, customs, agriculture, transport, energy and investment.

This came during extended talks with Russian Minister of Trade and Industry Denis Manturov during Nassar’s visit to Russia.

The talks tackled furthering cooperation in the economic domain during the coming  period and mechanisms and timelines set for the different projects.

Nassar said that a Russian mission is to visit Egypt in December during hosting Intra-African Trade Fair 2019.

Trade exchange between Cairo and Moscow expected to further flourish this year as it hit dlrs 6.7 billion in 2017.

Moreover, trade exchange between Egypt and Russia hit 2.775 billion dollars during the first five months of 2018, recording an increase of 31.5 percent in comparison with the same period in 2017.

Russia’s exports to Egypt stood at 2.4 billion dollars between January-May of 2018, with an increase of 32.3 percent if compared with the same corresponding period in 2017, the trade representation office indicated in a statement.

On the other hand, Egypt’s exports to Russia made an increase of 26.5 percent during the same period, recording 356 million dollars.

While Egypt’s exports to Russia included vegetable, fruits and garments, Russian exports to Egypt are topped by cereals, fossil fuel and metals.