Trade minister flies to Russia for building industrial zone in Egypt on June 16

Egyptian Commercial Service Office (ECS) is currently preparing for Trade Minister Tarek Qabil’s visit to Russia’s St. Petersburg on 16-18 June, 2016, Commercial Secretary at ECS said Monday.

Speaking to Amwal Al Ghad, Ehab Salah Eldin stated that Qabil will discuss latest developments about the Russian industrial zone which is set to be established among Suez Canal Axis Development projects within the upcoming period.

Qabil is also set to showcase Egypt’s joining to Eurasian Customs Union in addition to means of enhancing trade cooperation between Egypt and Russia.

The official pointed out that Egyptian exports to the Russian market rose in January-February 2016 to around $80 million opposed to $72 million at the same period of 2015.

In January2016, Egypt’s exports to Russia reached $35 million versus $24 million a year earlier, registering 36 growth despite the obstacles that faced Egyptian products to enter the Russian markets.

Salah Eldin added that the ministry is currently executing a strategy to boost Egyptian products accessibility to Russia. The strategy includes short-term plan that depends on making benefit of the Russian ban imposed on a number of Turkish products.

On other side, the strategy include a long-term plan that rely on boosting and diversifying Egyptian exports through implementing a strategy to achieve targeted volume of exports.