Egypt-Russia business council plans for upgrade of trade exchange

Egyptian-Russian Business Council members held a meeting yesterday with the Plenipotentiary Minister for Trade Affairs at the Egyptian Embassy in Moscow on the means to upgrade trade exchange between the two countries and increase of the Egyptian exports to Russia.

Egyptian-Russian trade exchange volume hit $ 900 million. including $ 500 million Russian exports to Egypt.

The Russian incoming tourism to Egypt-reached $ 370 million. Egyptian, exports to Russia amounted to $ 30 million-during the first three months of 2003, a sign of promising increase compared to last year' s exports which stood at $ 40 million over the whole year.

Chairman of the council, Ahmad Sheha, said the Russian market did not welcome low quality products, which came after the open door policy in the former Soviet Union Republic.