Russian-Arab Council: Egyptian Council Should Be Reshaped

Bastlav Cinco, vice chairman of Russian-Arab business council, has called on the Egyptian Minister of Industry, Eng. Hatem Saleh, to reshape the Egyptian Russian Business Council in order to support the economic relations and establish a new entity to discuss the opportunities of economic and investing cooperation, and working towards increasing the Egyptian exports to the Russian market, especially the crops.

During the preliminary conference of the third international convention of “Arabia expo”, and the eleventh meeting of the Russian-Arab Business Council, Cinco said establishing the Egyptian Russian Business Council will contribute to promoting the economic relations between Egypt and Russia. This council will include new members of businessmen, who are seeking to establish big investments inside the Egyptian markets, as well facilitating the presence of Egyptian businessmen in the Russian market and boosting the Egyptian exports in Russia.

Cinco elaborated that the investment needs the political stability; referring that the Egyptian market is a promising one and can attract numerous investments on condition of providing security and political stability.

For his part, Eng. Ahmed Galal, Chairman of IBIA, said the Minister of Industry and Foreign Trade is establishing  a number of business councils to boost the volume of the foreign and Arab investments and to discuss the ways of cooperation with a number of countries.

He added that there are joint efforts to secure the success of Russian investments in Egypt, working towards injecting Russian investments in some sectors in the Egyptian market.