Russian Ambassador to Egypt: "Record investments and strategic projects strengthen partnership between our countries"

The Russian Ambassador to Egypt, Georgy Borisenko, stated that Russia is working to strengthen its relations with Egypt, with both countries implementing numerous joint projects.

In an exclusive interview with  MENA (a partner of TV BRICS), Borisenko noted that the visit of Egyptian President Abdel Fattah el-Sisi to Moscow on 9 May yielded important results. He added that two protocols were signed: the first concerning the Russian Industrial Zone, and the second relating to agreements reached at a joint commission meeting, including cooperation in the areas of tourism, culture, and education.

The ambassador also emphasised that the total volume of Russian investments in the industrial zone will reach US$7 billion in the near future. He expressed confidence that the creation of this zone will attract Russian companies seeking to open up markets for their products on the African continent, highlighting the strong interest among many Russian firms in selling their goods in Egyptian, Arab, and African markets.

Regarding Russia-Egypt trade, Borisenko reported that bilateral trade turnover is growing rapidly and reached a record high last year, exceeding US$9 billion. A significant increase was also recorded in the first quarter of this year. He noted that Egyptian exports to Russia amounted to around US$1 billion.

Borisenko added: “Russia welcomes the supply of more Egyptian goods, including certain textile products.” He mentioned that he had invited Egyptian entrepreneurs to enter the Russian market. The ambassador also stated that Egypt imported over 10 million tonnes of wheat from Russia in 2024, a record in the history of bilateral trade. This volume covers more than 80 per cent of Egypt’s needs, underscoring Moscow’s reliability as a wheat supplier for the Egyptian market.

In the tourism sector, the Russian ambassador pointed out that around 1.6 million Russian tourists spend their holidays in Egypt annually, with 18 to 20 flights a day operating between Egypt and Russian cities.

Regarding the country’s participation in BRICS, Borisenko stressed that the bloc was created to strengthen the economies of its member states, support trade and investment, and expand the use of national currencies in mutual settlements. He highlighted that Egypt is a member of the BRICS New Development Bank, and discussions are currently underway regarding its access to concessional financing from the bank.