Russia to exchange wheat for Egyptian products

Russia expressed readiness to export wheat in return for Egyptian products, said Russian Minister of Industry, Science and Technology, Ilya Klebanov.

The Russian Minister added that several Russian companies requested to set up joint ventures in Egypt for car manufacture and medical tools.

Deputy of the Federation of Egyptian Industries (FE I), Youssef Boghdadi, said the joint ventures with Russia aimed at meeting the needs on the Egyptian markets and exporting for Arab and African markets.

Meantime, the Egyptian-Russian Business Council held talks on investment and trade exchange between the two countries.

The meetings dwelt also on the difficulties encountering Egyptian products and services on the Russian markets.

The council also tackled the tourism file. It was agreed to benefit from the tremendous capability of the Russian tourism market in cooperation between Egyptian and Russian travel agencies.