Investment and Foreign Trade Minister Mohamed Farid Saleh stressed ongoing development in Egyptian-Russian ties, aiming to deepen economic partnership, boost Egyptian exports to Russia, and enhance joint investments.
This came during his meeting with Russian Deputy Minister of Economic Development Vladimir Ilyichev on the sidelines of the 16th BRICS Trade Ministers Meeting in Jaipur, India, to discuss expanding economic and trade ties under the BRICS framework.
Saleh emphasized ongoing coordination within BRICS, noting joint membership opens new horizons in trade, investment, development financing, and supply chains.
He highlighted positive trade growth, with bilateral trade volume reaching nearly $5.7 billion in 2025.
He noted Egyptian exports to Russia rose 66% from $485 million in 2021 to $811 million in 2025, stressing continued efforts to increase Egyptian market access and joint investments.
Both sides discussed cooperation in grain trade, supply chains, and accelerating the Russian Industrial Zone project in Egypt to attract investment and transfer technology.
Saleh expressed Egypt’s desire to host the 16th joint committee meeting in Cairo in 2027 to boost cooperation across key sectors including trade, energy, agriculture, and tourism.
The meeting covered facilitating business travel, with Saleh urging Russia to streamline entry visas for Egyptian business leaders to support direct investment.
The two sides agreed to maintain joint coordination to advance their economic partnership and maximize benefits from their BRICS membership.
Egypt, Russia seek deeper economic partnership, enhanced trade within BRICS Egypt Independent.
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