Egypt's Sovereign Fund partners with Scatec, Fertiglobe to develop green hydrogen facility    IMF sees Egypt's government gross debt hitting 91.4% of GDP in 2021    Egypt to be listed on JP Morgan emerging bond index late January 2022    Egypt hosts regional conference of EU refugee agency EASO    SCOHRE sparks discussion on harm reduction, tobacco control    TikTok hits 1 billion monthly active users worldwide    Egypt to receive first of six high-trains from Spain's Talgo in mid-November    Healthy food brand Abu Auf plans Egypt IPO in Q2-2022    National Bank of Egypt wins licence to open Saudi Arabia branch    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Over 100 officials resign from Tunisia's main Islamist party    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egyptian court bans use of mosques for political purposes    Brazil calls up 8 EPL players for World Cup qualifying    Refugees in fear as sentiment turns against them in Turkey    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Huawei Technologies has invested $10 mln over 5 years in innovation centres in Egypt    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    Orange Egypt Introduces Amazon Prime Video    Tokyo Olympics: Cautious opening ceremony, shy start for Egyptians in competitions    Mallawi Museum in Upper Egypt holds recycling workshop for children during Eid Al-Adha    Egypt keen on stable tax policies to attract more investors: Finance Minister    Sudan declares state of emergency as water goes beyond Merowe Dam capacity    Niagara Falls illuminated in Egyptian flag to mark 23 July Revolution anniversary    Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt    1 child orphaned every 12 seconds due to COVID-19-associated death: World Bank    Egypt, Japanese Olympic Committee discuss boosting sports cooperation    US emphasises AU's role in mediating Ethiopian damdispute    Ethiopia ready to resume dam talks with no legally binding agreements: Ethiopian official    Sunken city of Thônis-Heracleion in Egypt's Abu Qir bay yields new archaeological treasures    New films, concerts, and destinations for Eid Al-Adha holidays    Egypt, Oman discuss enhancing bilateral economic, investment relations    Al Ahly v Kaizer Chiefs: Cairo giants eye 10th CAF Champions League title    Tunisia hopes to have a UN role in resolving Egypt-Ethiopia dam dispute    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Seventy-five years on
Published in Al-Ahram Weekly on 18 - 10 - 2018

Meeting with Russian President Vladimir Putin in Sochi during a busy three-day official visit, President Abdel-Fattah Al-Sisi discussed economic cooperation and the implementation of joint projects as well as ways to build on the two countries' growing military cooperation.
During the visit, which coincided with the 75th anniversary of relations being established between Egypt and the Soviet Union, Putin issued a decree approving the signing of a Comprehensive Partnership and Strategic Cooperation Agreement.
On Tuesday Al-Sisi met with Tigran Sargsyan, the Chairman of the Board of the Eurasian Economic Commission (EEC). During the meeting the president underlined the importance of reaching a free trade agreement that could contribute to doubling trade and joint investments.
The EEC is the permanent regulatory body of the Eurasian Economic Union (EAEU), a five-country grouping of Armenia, Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.
Sargsyan said the EAEU is keen to begin negotiations with Egypt on a free trade agreement.
Al-Sisi laid a wreath at the Tomb of the Unknown Soldier in the Alexander Garden in Moscow before heading to the Russian Federation Council (RFC), the upper house of the Russian parliament, where he became the first foreign president to address the RFC.
The president also met with Russian Prime Minister Dmitri Medvedev and other senior Russian officials to discuss ways to bolster Russian investments in the Suez Canal Economic Zone.
In May Egypt and Russia signed a 50-year agreement to build a Russian Industrial Zone in the new Suez Canal Economic Zone. The zone, built on an area of 5.25 million square metres at a cost of $7 billion, is at the forefront of plans to increase trade and economic cooperation between the two countries.
Russian investments in Egypt by the end of 2017 reached $4.6 bilion, with more than 60 per cent in the oil and gas sector.
According to the Russian Federal Customs Service, the volume of bilateral trade between January and April 2018 reached $2.163 billion, a 49 per cent increase on the same period last year. Russian exports to Egypt increased by 50 per cent to reach $1.8 billion, while exports from Egypt recorded a 41 per cent hike to $481 million.
During the visit, officials from Egypt's Ministry of Electricity and Russia's State Atomic Energy Corporation (Rosatom) updated Al-Sisi and Putin on progress in constructing the nuclear power plant at Dabaa on Egypt's North Coast, which Russia is building.
Negotiations to build the plant, which will consist of four 1,200 megawatts reactors, began in 2015. In May 2016 President Al-Sisi approved an agreement under which Moscow provides a $25 billion loan to finance the construction of the seven-year project, to be paid off over 35 years.
Al-Sisi's meeting with Putin included a follow-up on project specifications and discussions of the timetable for the construction of the nuclear plant.
Tourism was also discussed. Russian tourists made up 30 per cent of all incoming visitors to Egypt before the downing of a Russian flight above the Red Sea resort of Sharm El-Sheikh in October 2015. Following the tragedy Russia imposed a ban on all flights to Egypt. Earlier this summer the ban on flights to Cairo was finally lifted, though it remains in place on flights to the Red Sea resorts of Sharm El-Sheikh and Hurghada.
Earlier this week, in a column penned for the daily Al-Ahram, Russian Foreign Minister Sergei Lavrov said Moscow was eager to work with Egypt to boost airline security.
“It is important to continue joint efforts that support the safety of both countries' citizens,” Lavrov wrote.
“Strengthening ties with Russia does not mean Egypt is neglecting its western allies,” says Mohamed Fayez of the Al-Ahram Centre for Political and Strategic Studies. “Egypt's new policy is to balance its relations with the east and the west.”
Moscow and Cairo share a number of common goals, says Fayez, not least in Syria where “Egypt's stance is similar to that of Russia, with both countries determined to preserve the integrity of the Syrian state.”

Clic here to read the story from its source.