(MENAFN- Trend News Agency)
Egypt and Russia intend to increase the share of settlements in
national currencies, Egyptian Foreign Minister Sameh Shoukry
announced on Tuesday speaking at a joint press conference with
Russian Foreign Minister Sergey Lavrov, trend reports citing
'We have long been working on building proper arrangements that
will allow us, in the spirit of greater sovereignty, to use them
[national currencies] in our trading activities,' he said, adding
'We plan to expand the volume of transactions in these
The minister also added that the parties still have a series of
consultations on this issue and both states are aimed at further
work in this direction.
He also said that the Egyptian authorities expect supplies of
Russian grain to continue and be increased. 'Russia is one of the
key grain suppliers to the global market. This is one of our staple
food products, and we expect its supplies to continue,' he said.
'We aim not only to maintain the current pace and volume of
supplies, but also to further increase them, as well as to expand
the nomenclature of trade turnover in other directions,' the
Shoukry also focused on the growth of trade turnover between
Russia and Egypt, which roughly equaled $6 bln in 2022, adding that
the parties would be searching for new directions to expand
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