Russia-Egypt trade surges to US$8 billion in 2024 as economic ties strengthen

Trade between Russia and Egypt has reached a new milestone, hitting US$8 billion in 2024. Russian Ambassador to Egypt, Georgiy Borisenko, revealed this significant figure during his address at the Cairo International Book Fair, underscoring the deepening trade partnership between the two nations, as reported by DNE Africa, a partner of TV BRICS.

Earlier, Russian President Vladimir Putin and Egyptian President Abdel Fattah Al-Sisi prioritised key infrastructure initiatives, including the construction of a nuclear power plant in Egypt and the development of a dedicated Russian industrial zone.

Russia remains a crucial partner in Egypt’s agricultural sector, maintaining its position as the country’s largest wheat supplier, as reported by the source. In 2024 alone, Russia exported 9 million tonnes of wheat to Egypt.

The increase in trade volume from US$7 billion in 2023 to US$8 billion in 2024 highlights the steady expansion of economic ties, particularly in agriculture, energy, and industrial development.

Beyond agricultural and energy trade, Russia and Egypt are to enhance investments in key sectors such as transportation, infrastructure, and technology.

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