Egypt intends to develop cooperation with Russia

The head of the Association of Exporters of Egypt, Mohammed Kassem, said that his country plans to diversify its exports to Russia. To date, the first place of Egyptian exports to the Russian Federation is occupied by agricultural products.

Egypt hopes to send pharmaceuticals, chemicals, textiles, meat, wood and other products to Russia.

However, at the moment, Egyptian business is facing two main problems in doing business with Russian entrepreneurs: the complexity of bank transfers due to sanctions imposed on banks, as well as disruptions in shipping and air transportation, which leads to an increase in the cost of products.

This year Egypt is a guest country at the 25th St. Petersburg International Economic Forum (SPIEF). The Egyptian authorities note that Egypt's status within the framework of the SPIEF will open up wide opportunities for organizing joint business events and will contribute to strengthening trade and economic relations between the countries.