Sisi stresses Egypt's interest in boosting ties with Russia in industry, trade

President Abdel Fattah El Sisi stressed on Tuesday Egypt's interest in boosting cooperation with the Russian side in the industry and trade sectors, Presidential Spokesman Alaa Youssef said.

This came during Sisi's meeting in Moscow with Russian Industry and Trade Minister Denis Manturov and CEO of Russian Direct Investment Fund (RDIF) Kirill Dmitriev.

During the meetings, the two Russian officials stressed their country's content over the significant growth of bilateral relations, especially at the economic and trade levels.

They said that the growing relations came as a result of the joint efforts exerted by the two sides, which reflected keenness on boosting ties in various fields.

Sisi asserted the importance of promoting cooperation in the field of industrialization through the establishment of new industrial projects to fulfill the needs of the local market and export to many countries.

He added that Egypt looks forward to cooperation with Russia in developing the major industrial complexes, which were jointly established in the 1950s and 1960s.

Sisi also stressed that Egypt welcomes the Russian investments in various fields, including the development of the Suez Canal region, the world logistics center for trading and storing crops that will be established in Damietta.

He said that Egypt seeks to boost cooperation with Russian in the field of agriculture and increase Egyptian exports to Moscow.

The Russian side voiced interest in increasing its investments in Egypt, especially in view of the recent legislative reform that provides an atmosphere favorable for investments.