The trade turnover between Russia and Egypt in 2021 increased by 10% and reached the mark of $5 billion, Russian Ambassador to Egypt Georgy Borisenko told RIA Novosti.
Borisenko noted that despite the difficulties associated with the pandemic, Egypt has steadily remained Russia's key trading partner in Africa, accounting for about a third of the trade turnover with the continent.
"Mutual trade turnover in 2021, according to preliminary statistics, was about $5 billion, adding 10 percent compared to 2020," the ambassador said.
According to him, Russia exports wheat and other grains, metals, timber, machinery and equipment, chemical products to Egypt, and imports fruits, vegetables and textiles.
About 470 domestic firms operate in the Egyptian market, investing more than $8 billion, the ambassador said.
Speaking of the obstacles to increasing trade turnover, the ambassador said much rests on the desire to protect domestic producers from competition and the obstacles associated with bureaucratic procedures. "We try to help Russian companies to overcome these difficulties. They exist, but in general they do not create significant obstacles for the successful cooperation between Russia and Egypt," the diplomat said.
GSV "Russia - Islamic world"
Photo: Federation Council
Based on materials from RIA Novosti