The Russian trade representative in Cairo, Nikolai Aslanov, announced that the trade exchange between Egypt and Russia hiked by 75% year-over-year in the first quarter of 2018, to reach $1.66bn by the end of March, according to the Middle East News Agency.
Aslanov illustrated that the Russian exports to Egypt amounted to $1.472bn, while Egyptian exports to Russia amounted to $192m.
He revealed that Russia`s wheat exports to Cairo reached $501m, accounting for 34% of total Russian exports to the North African nation.
On contrary, he said that Egypt’s fruit exports to Russia amounted to $103m in the aforementioned period of 2018, representing 54% of Egypt’s total exports to Russia, while vegetables reached $60m.
He asserted that the total Russian capital accumulated in Egypt reached $4.6bn by the end of 2017, of which more than 60% of them is concentrated in the oil and gas sector.
The Russian trade representative in Cairo pointed out that it is expected that Russian delegations will visit Egypt during the coming period, to discuss mean of cooperation with Egyptian partners in the fields of gas and oil, as well as the agricultural sector and the production of metals, railways, and medicine.