A number of Russian firms will visit Egypt in mid-January to discuss investment in the fields of power, agriculture, tourism, and automotive, Amwal Al Ghad reports. The Egyptian Trade Ministry’s Commercial Service will hold an expanded meeting during the visit to showcase a number of Egyptian firms and investment opportunities. The meeting will be organized in cooperation with the Egyptian-Russian Business Council.
After the visit, an Egyptian-Russian joint committee meeting will be held in Sharm El Sheikh between Egyptian Trade, Minister Tarek Qabil and Russian Trade Minister, Denis Manturov. The meeting will determine the capital of the Russian-Gulf investment fund to start executing a number of new Russian projects in Egypt in the months ahead, particularly in the Suez Canal region and in tourism.
The meeting comes after a mixed year for Egyptian-Russian relations. Projects such as the Dabaa nuclear plant demonstrated close ties between the countries, while the plane crash in the Sinai increased tensions. Nonetheless, some analysts believe that tension and decreased trade between Russia, Europe, and Turkey may benefit Egyptian exports.