Differences between exporters delay establishment of Egyptian-Russian company

The Egyptian-Russian company which Egypt and Russia agreed to set up to boost trade with the participation of both countries' private sectors is facing difficulties due to differences between the exporters over the company's role in boosting trade, the exporting fields, and the commodities that the company is going to deal in.

The company's capital is expected to be $30 million, split evenly between the two countries. A member of the Egyptian Department of Exports stated that setting up two companies instead of one company is currently under study. The first would be responsible for trade in industrial commodities, while the second would be responsible for agricultural commodities.