During his visit to Moscow this week, Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour assigned the Egyptian embassy’s trade office to study expansion in trade centres showcasing Egyptian products.
Abdel Nour said in a statement that his call came to guarantee “an appropriate” market share for Egyptian products in Russia. He called on Egyptian companies exporting to Russia to establish affiliate offices in Moscow to market their products.
Abdel Nour will visit Russia this week to inaugurate on Monday the Egyptian pavilion participating in the World Food Moscow Exhibition, which includes 64 Egyptian companies. He will also attend the Egyptian-Russian Business Forum, which will bring together businessmen from both sides.
Abdel Nour said, following a meeting with the Russia’s Minister of Agriculture Nikolai Fyodorov, that economic relations between the two countries will be “boosted”, Egypt’s State Information Service (SIS) reported.
In light of the European Union (EU) export ban imposed on Russia, Egypt will start exporting agriculture products to Russia, SIS reported. SIS added that the two countries also discussed during the meeting the potential of Egyptian products to meet Russian needs.
Earlier in August, President Abdel Fattah Al-Sisi met with Russian President Vladimir Putin to discuss bilateral cooperation on the economic and political fronts. Putin announced, following the visit, that his country, the largest wheat exporter to Egypt, will supply the country with 5m tons of wheat throughout the year.
During the visit, Al-Sisi also agreed with Putin to establish a Russian industrial zone as part of the new Suez Canal Project. The Russian government also approved Egypt’s proposal to begin negotiations regarding the establishment of a free trade zone between Egypt and Customs Union countries, which include Russia, Belarus and Kazakhstan.