Export contracts worth $47.5mln in Russia over the last 5 months and the Egypt-EAEU FTA talks to be launched soon.
Egyptian Commercial Services office in Russia concluded export contracts worth $47.5mln over the last 5 months, including agricultural and food products for $45mln and $2.5mln respectively, Minister of Trade and Industry Tarek Kabil said.
More than 44 export opportunities were provided too, with an estimated total of $60mln, in various fields, including agricultural and food products; home linens; and cotton wear.
Kabil said that talks are underway between officials in the commercial office in Moscow and the Eurasian Economic Union to proceed with the negotiations on the Egypt-Eurasian free trade agreement, which are due to start soon.
The office, he added, has also held a recent meeting with the Russian Direct Investment Fund to discuss its proposal for injecting investments worth $50mln in one or more profitable Egyptian projects.
Naser Hamed, head of the Egyptian commercial services office in Moscow, reaffirmed that the office is working diligently to implement the Ministry‘s strategy aiming at strengthening the economic relations between Egypt and the Eurasian Union countries, specifically Russia. Thanks to the ministry’s efforts, he noted, Russia has finally lifted its ban on Egyptian potato imports, which were allowed once again into Russian markets starting last December.