Cairo: Investment and Foreign Trade Minister Mohamed Farid Saleh emphasized the progress in Egyptian-Russian relations, focusing on deepening economic partnerships, boosting Egyptian exports to Russia, and enhancing joint investments. This announcement came during his meeting with Russian Deputy Minister of Economic Development Vladimir Ilyichev on the sidelines of the 16th BRICS Trade Ministers Meeting in Jaipur, India, aimed at expanding economic and trade ties under the BRICS framework.According to State Information Service Egypt, Saleh highlighted ongoing coordination within BRICS, pointing out that joint membership offers new opportunities in trade, investment, development financing, and supply chains. He noted the positive trade growth, with bilateral trade volume projected to reach nearly $5.7 billion by 2025. Egyptian exports to Russia have notably increased by 66%, rising from $485 million in 2021 to $811 million by 2025, as part of the continued efforts to enhance market access and joint investmen ts.During the meeting, discussions focused on cooperation in grain trade, supply chains, and the acceleration of the Russian Industrial Zone project in Egypt, which aims to attract investment and facilitate technology transfer. Saleh expressed Egypt's intention to host the 16th joint committee meeting in Cairo in 2027 to further bolster cooperation in key sectors such as trade, energy, agriculture, and tourism.Additionally, the meeting addressed the facilitation of business travel, with Saleh advocating for streamlined entry visas for Egyptian business leaders to support direct investment. The two sides agreed to maintain joint coordination to advance their economic partnership and maximize the benefits of their BRICS membership.
Egypt and Russia Aim to Strengthen Economic Ties and Trade Relations within BRICS
POPULAR POSTS
SIS Boosts Awareness of National Projects and Their Benefits
October 14, 2026
Egypt Retains WHO Gold Status for Hepatitis C Elimination Efforts
October 14, 2026
Amani Asfour Re-Elected President of African Business Council
October 14, 2026
Bayer and Egypt Sign Memorandum to Enhance Healthcare Collaboration
October 13, 2026
Egypt and Philips Discuss Expanding Medical Device Manufacturing
October 13, 2026
Cairo Chosen as OIC Capital of Islamic Tourism for 2026
October 13, 2026
SIS Enhances Efforts to Raise Awareness on Population Issues
October 13, 2026
Egypt Aims to Become Regional Tourism Hub, Says Foreign Minister
October 12, 2026