The meeting of the Minister of Industry and Trade of the Russian Federation Denis Manturov and the President of the Arab Republic of Egypt (Egypt) Abdel-Fattah Khalil Al-Sisi took place in the framework of the working visit of the Russian business delegation to Cairo. During the talks the sides exchanged views on state and prospects of bilateral trade and economic cooperation and agreed to continue work on the elaboration of new joint projects.
The Minister of Industry and Trade informed Mr. Al-Sisi on the progress of work on the forum of the Russian business mission "Trade and industrial dialogue Russia-Egypt" and discussed issues related to the provision of tools to support the business dialogue in order to create conditions and to arouse interest of Russian companies in opening their operations in Egypt.
"Last year the trade turnover between Russia and Egypt has grown to nearly $5.5 billion dollars considering the fact that the Egyptian side has increased the supply of agricultural products. This year's dynamics become positive. And we will strive to increase our trade turnover due to the creation of joint ventures, which will allow to increase volumes of production and mutual supplies", said Denis Manturov.
According to the Minister of Industry and Trade a number of agreements has already been reached during the meetings and negotiations at the business forum in Cairo regarding the fact that Russia and Egypt will actively develop high-tech joint industrial and infrastructure projects and will create new synergies, new growth points and interactions.
For example, cooperation between countries in the field of pharmaceutical industry should reach a whole new level. "Taking into account the strategic position of Egypt in the region, we consider the establishment of joint ventures and the subsequent development of new drugs based on the use of those researches and potential that Egyptian pharmaceutical companies possess", noted Denis Manturov.
Great prospects are opening up in the Russian-Egyptian cooperation in such priority areas as construction, nuclear power industry, the oil and gas sector, shipbuilding, heavy engineering, transport and special machinery, as well as in the field of civil aviation in connection with the promotion plans of helicopters: various modifications of Mi-17, Mi-38, Ansat, Ka-226 and passenger aircraft SSJ 100 and MS-21 at the Egyptian aviation market.
Manufacturers and suppliers of Russian aircraft support sustainable contacts with the Egyptian airlines that are interested in purchasing the aircraft. So, after the completion of the presentation of the Russian aircraft at a business forum, Egyptian experts have been provided with the ability to fly as passengers on the SSJ 100 for familiarization with the capabilities of the aircraft.
The parties also discussed the traditional topic related to military-technical cooperation. According to the Head of the delegation Denis Manturov in addition to the already concluded contracts, there are prospects for the conclusion of additional contracts. "The portfolio of orders is impressive. We currently provide constant dynamics of development in this direction. This is our partner, who is among the five largest customers," the Minister said.
The construction project of grain market infrastructure and facilities for food processing industry in Egypt is in the final stage of development.
New technologies in the field of construction of residential complexes is a new theme in Russian-Egyptian relations. The Russian side proposes to build the plant for the production of building materials and provision of constructing on mutually beneficial terms in Egypt.
Working visit of the Russian business delegation to Egypt headed by Denis Manturov is dedicated to increasing the number of business contacts, boosting trade, economic and industrial cooperation between the two countries.
