Sisi discusses Russian investments in Egypt

CAIRO – 19 March 2023: In a meeting with a high-level delegation from Russia on Sunday, President Abdel Fattah El Sisi discussed the developments of Russian investments and joint ventures in Egypt in an array of fields, particularly the construction of the nuclear power plant in El Dabaa, as well as the establishment of the Russian Industrial Zone in the Suez Canal Industrial Zone, said Egyptian Presidential Spokesperson Ahmed Fahmy in a statement.

The Russian delegation included Deputy Prime Minister and Minister of Trade and Industry Denis Manturov, Special Representative of the Russian President Mikhail Bogdanov as well as the Russian Deputy Minister of Trade and Industry, the Vice President of the Russian Central Bank and the Ambassador of the Russian Federation.

From the Egyptian side, the meeting was also attended by Prime Minister Moustafa Madbouly; Minister of International Cooperation Rania Al-Mashat; Minister of Finance Mohamed Maait and Minister of Trade and Industry Eng. Ahmed Samir.

Russian Industrial Zone in the Suez Canal is set to pave the way for starting joint manufacturing projects, the localization of industry and export to markets in different geographical regions. The meeting also focused on cooperation in the supply of grain and food, in light of the current global crisis, Fahmy added.

During the meeting, the two sides underscored mutual commitment to further strengthening bilateral relations in various fields. They also valued the close bilateral relations and historical friendship between the Egyptian and Russian peoples.

Furthermore, the meeting focused on Egyptian-Russian economic relations, which are supported by the general framework of the strategic partnership between the two countries.

This framework provides various bilateral mechanisms for cooperation, including the Egyptian-Russian Joint Committee for Trade, Economic, Scientific and Technical Cooperation, which is currently holding its 14th session in Cairo, thus contributing to strengthening economic, investment and trade relations between Egypt and Russia.