- The Russian Ambassador to Egypt Georgy Borisenko in a press conference has stated that the economic ties between Russia and Egypt are on the rise.
- He said that Russia’s investments in Egypt amounted to 8 billion dollars by the end of 2020.
- The bilateral trade between Egypt and Russia rose to 3.3 billion dollars from January to September 2021.
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The Russian Ambassador to Egypt Georgy Borisenko in a press conference has stated that the economic ties between Russia and Egypt are on the rise. He said that Russia’s investments in Egypt amounted to 8 billion dollars by the end of 2020. The bilateral trade between Egypt and Russia rose to 3.3 billion dollars from January to September 2021. He added that Egypt will be the guest of honor of the St. Petersburg International Economic Forum, which will be held in June 2022.
Ambassador said that though the Covid-19 pandemic had adversely impacted the Dabaa nuclear power plant, the work will resume soon. The Project will attract seven billion dollars worth of Russian investments. Russia has also exported large quantities of Sputnik vaccines to Egypt this year. The vaccine is set to be produced in Egypt at a production capacity of 40,000 vaccines. Russia will also be transferring the vaccine technology to Egypt. He hailed the strong cooperation between the two countries in the field of combating international terrorism and information security.
