Alikhanov reported an increase in trade turnover between Russia and Egypt to $9 billion

The trade turnover between Russia and Egypt increased by 32% in 2024 and exceeded $9 billion. This was announced on May 14 by Anton Alikhanov, Head of the Ministry of Industry and Trade of the Russian Federation, at a plenary session of the Russian-Egyptian Commission on Trade, Economic, Scientific and Technical Cooperation.

"Egypt is our largest foreign trade partner on the African continent. Our trade turnover shows steady growth. Over the past five years, it has increased by one and a half times. Last year alone, mutual trade grew by almost 32%, breaking the $9 billion mark," the minister said.

Alikhanov noted that Russia is interested in increasing exports of meat, fat and oil, dairy and fish products to Egypt and increasing the volume of fruit and vegetable imports from the republic.

He stressed that the transition of Russia and Egypt to settlements in national currencies and monetary units of friendly countries would give a new impetus to the development of trade and economic ties between the states.

The head of the Ministry of Industry and Trade said that in 2024, 1.4 million Russians visited Egypt. Compared to 2023, this figure has increased by 15%.

"Russian companies are already supplying modern telecom equipment for a national high-speed Internet project in remote areas of Egypt," Alikhanov added.

Russian President Vladimir Putin said at a meeting with his Egyptian counterpart Abdel Fattah al-Sisi on May 9 that the trade turnover between Russia and Egypt increased by a third last year, reaching a record $9 billion. He added that the two countries are engaged in the implementation of major joint projects.

On the same day, the Egyptian president discussed with Putin the possibility of increasing the tourist flow from Russia. The heads of state, among other things, reviewed the development of new tourist destinations.