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Egypt-Russia business forum kicks off in St. Petersburg
16 June 2022  -  Sector :  -  Entity :  -  Category : General

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Egypt and the Russian Federation enjoy strong, distinct bilateral ties that are reflected on various mega projects.

St. Petersburg- June 16, 2022

The Egypt-Russia Business Forum has kicked off within the 25th edition of St. Petersburg International Economic Forum (SPIEF) held on June 15-18, with the participation of Minister of Trade and Industry Nevine Gamea and her Russian counterpart Denis Manturov.

“Egypt and the Russian Federation enjoy strong, distinct bilateral ties that are reflected on various mega projects which help boost the national economy,” Gamea said, calling Russian investors to inject more capital into the local market and benefit from its business-conducive environment.

Recent years, she added, have witnessed numerous meetings between Egyptian and Russian officials, businessmen and industrialists, opening horizons for further cooperation that would serve the interests of both sides.

The minister pointed out that Egypt-Russia trade hit $4.7 billion in 2021, up 5.1% from $4.5 billion a year earlier; with Egypt’s exports to Russia amounting to $591.7 million and imports $4.178 billion, rising 14.7% and 3.9% respectively.

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