Egypt, Russia trade exchange reached $5.5 billion in 2014: minister

Trade exchange between Cairo and Moscow reached $5.5 billion in 2014, an 80 percent increase compared to 2013, as a result of the increase in Egypt’s agriculture exports to Russia, said Russia’s Industry Minister Denis Manturov.

President Abdel Fatah al-Sisi and Egyptian Minister of Industry Mounir Fakhry Abdel Nour met with Manturov, Russia’s ambassador to Cairo, and the Russian deputy-minister of finance Tuesday, Youm7 reported.

Manturov added that 3 million Russian tourists came to Egypt in 2014, and that there are new means to be developed to increase this figure.

Sisi assured that Egypt is always welcomes Russian tourists and hopes to double this number.

The Russian minister presented some new cooperation ideas; such as establishing a storage center, trading Russian wheat within and from Egypt to neighboring markets.

“Air transportation, drugs production, new metro lines manufacturing and of Russian cars’ assembly centers are all new prosperous fields of cooperation between the two countries,” said Manturov.