Tuesday, 02 January 2024 12:17 GMT

Russia, Egypt Forge Deeper Relations with USD10B Trade Milestone


(MENAFN) Russian Foreign Minister Sergey Lavrov and Egyptian counterpart Badr Abdelatty cemented their nations' deepening strategic alliance during high-level talks in Moscow on Friday, covering a sweeping agenda that ranged from energy logistics and grain trade to coordinated positions on some of the world's most volatile regional conflicts.

Friday's ministerial session followed a separate meeting the previous day between Abdelatty and Russian President Vladimir Putin, during which Putin extended a formal invitation for Egypt to participate in the third Russia–Africa Summit, slated for this autumn.

Abdelatty echoed Lavrov's characterization of the partnership's depth, affirming the "strategic nature of bilateral relations, …including economic relations, relations in the sphere of security, military, political, energy and others."

Central to the economic discussions were plans to establish a logistics hub on Egyptian soil dedicated to the distribution of Russian petroleum products and grain — an initiative designed to serve the broader needs of Arab nations and the African continent.

"We [Egypt] hope this project will become a platform for production and export," Abdelatty said. The Egyptian minister further described Moscow as "a primary ally and Egypt's leading partner" in grain imports — a designation that underscores Cairo's significant dependence on Russian agricultural supply chains.

On the trade front, Lavrov pointed to robust momentum, noting that "bilateral trade exceeded $10 billion, which is an increase of nearly 12%" by the close of last year — a figure that reflects the resilience of economic ties even amid broader geopolitical pressures on Russia.

The two ministers also staked out shared ground on several festering regional crises. On the Middle East, both sides aligned firmly behind diplomatic over military solutions.

"Russia and Egypt have aligned strategic approaches to the crisis in the Middle East," Lavrov said.

Beyond the Middle East, the discussions turned to Africa's protracted instability. Both parties acknowledged that fighting in Sudan has persisted for three years, while Libya has endured chronic disorder since 2011 — with both ministers calling for unified international engagement and negotiated political settlements.

The meeting also served as a preparatory forum for forthcoming multilateral engagements, including the Russia–Arab Cooperation Forum and the upcoming Russia–Africa Summit, signaling Moscow's continued push to consolidate influence across the Arab world and the African continent.

MENAFN05042026000045017169ID1110944080



MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search