Egyptian Information, Telecommunications, Electronics, and Software Alliance (EITESAL) organized a joint workshop with a Russian delegation, headed by the Deputy Minister of Communications and Digital Transformation in Russia, to discuss investment opportunities in the fields of communications, integrated systems, and optical fibre on both sides.
The Russian delegation also included Konstantin Noskov, the former Russian Minister of Communications and Information, and a number of companies working in the ICT sector.
The trade exchange between Egypt and Russia has tripled over the last three years, reaching $7.6bn in 2018. Egypt became Russia’s first trading partner in Africa, accounting for 83% of the trade volume between Russia and Africa. Egypt also accounts for 33% of the volume of trade exchange between Russia and Arab countries.
The workshop was held in coordination with the Information Technology Industry Development Agency (ITIDA), where the Russian side emphasized the strategic role that Egypt plays in this sector in the Middle East and North Africa.
Assem Wahbe, a board member in EITESAL, said that one of the main roles that EITESAL plays is opening new markets to Egyptian companies, especially small and medium ones.
Total of 25 Egyptian companies, working in the fields of communications, integrated systems, and optical fibre, participated in the event and discussed prospects for cooperation in joint projects with Russian counterparts.
Mohamed Shedid, CEO of EITESAL, said that Egyptian companies should familiarize themselves with all the surrounding technologies and eventually decide which of them will be suitable for local use.
He noted that the cooperation with the Russian side aims to transfer Russian technology; design, market, and distribute new products if they are suitable for the local market; and open new markets for Egyptian companies to export their products.