Egypt becomes biggest market for Russian goods

Statistics from the Russian Export Center shows that Egypt has outpaced China as the largest buyer of Russian products. In 2017, the country imported Russian goods worth almost $1.8 billion - up 44 percent from the previous year.

Egypt is the world's largest buyer of wheat due to high consumption of bread. It ships wheat from Russia, Ukraine, France and the United States.

Russia has recently boosted wheat export contracts on expectations of a record grain harvest, and Egypt is one of its biggest customers. Wheat exports to Egypt have averaged between four and five million tons a year, and are expected to reach six million tons. Moscow and Cairo are currently in discussions regarding the possibility of Russian participation in the construction of grain infrastructure in Egypt.

The two countries are also exploring the possibility of signing a free-trade agreement. The deal could boost trade and investment, according to Russian Prime Minister Dmitry Medvedev.