Trade exchange between Egypt, Russia hits $3.3 bln in 2021's first nine months: Ambassador

MENA , Ahram Online , Sunday 26 Dec 2021

Russian Ambassador to Egypt Georgy Borisenko said on Sunday the volume of trade exchange between Egypt and Russia hit $3.3 billion from January to September 2021.

 Georgiy Borisenko
Russian Ambassador in Cairo Georgiy Borisenko

Russia's investments in Egypt amounted to $8 billion by the end of 2020, the ambassador said in a press conference.

Egypt will be the guest of honour at the St. Petersburg International Economic Forum, which will be held in June 2022, he said.

Borisenko added that the COVID-19 pandemic had badly affected progress on the Dabaa nuclear power plant, but the work will undoubtedly resume in this project, which will attract seven billion dollars worth of Russian investments.

Russian nuclear energy corporation Rosatom is implementing the Dabaa plant in Matrouh governorate, in the north of Egypt, under an agreement signed between Egypt and Russia in 2015. The plant is expected to begin producing power in 2026.

He pointed out that his country exported large quantities of Sputnik vaccines to Egypt this year, noting that the vaccine technology will be transferred to Egypt to be manufactured with a production capacity of 40 million vaccines.

Russia and Egypt have high-level cooperation in the field of combating international terrorism and information security, the ambassador noted.

He also referred to the convergence of viewpoints between Egypt and Russia to support the unity of Libya's territory and combat terrorism. 

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