Russia-Egypt Trade Exchange Hits US$5.5 bln in 2014

The trade exchange volume between Egypt and Russia reached US$ 5.5 billion and it is expected to raise, Andrey Belyaninov Head of Federal Customs Service of Russia announced.

Belyaninov said raising the exchange between the two countries is currently considering throughout ratifying the national currency exchange. This was during a press conference held by Finance Ministry on Wednesday February26 to announce the cooperation protocol between the two countries’ customs.

The Russian Customs head affirmed the Egyptian Russian customs agreement on raising the trade exchange through free zone system which is considered a better solution than the customs exemption.

Belyaninov added it is highly important to hold a joint meeting between the two countries banks’ officials to set the rules for the local currency dealing. As well as the services provided to the Russian tourism in Egypt which exceeded 3 million tourists in 2014.