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Thursday, 12 December 2019

Egypt could be the hub for Russian exports to Africa: Russia's trade minister

Russia sees a key role for Egypt in enhancing development ties between Moscow and African countries

Sarah El Essawy from Suchi , Thursday 24 Oct 2019
summit
The session on supporting African trade in Russia-Africa summit in Sochi , Russia (Sarah El-Essawi)
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Russia's Trade Minister Denis Mantorov has stressed the importance of cooperation between Russia and African countries on the second day of the Russia-Africa Economic Forum. 
 
In a session on supporting African trade, Minister Mantorov pointed to the possibility of enhancing the role of the Egyptian market as a hub for Russian products to access the African continent, where Egypt is a key trade partner of
Russia and the volume of trade exchange between the two countries increased by 17% and Egypt accounts for 30% of Russia's exports to the African continent.
 
Dr Bandikit Oramha, president of the African Export-Import Bank, spoke about working in cooperation with the Russian Export Centre to support increased exports between Russia and the African continent.
 
"Relations between Russia and African countries are strong and good, and we seek to open new fields of work and cooperation, diversify products and attract investment from various sources and sectors. Russia is one of the main investors in the African continent," he said. “We have seen the establishment of industrial zones in many African countries, and we are already working on the establishment of further zones in Ivory Coast, Gabon and elsewhere,” he added.
 
Dimri Mazen, general manager of Shardmithoden Group, talked about the experience of the Russian company in the export of railway machinery and equipment to several African countries, including Egypt, to help improve services and safety, noting that it is still a dream to connect African countries to the railway network from Cairo to Cape Town. 
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