Egypt, Russia seek deeper economic partnership, enhanced trade within BRICS

Egypt and Russia are actively pursuing a deeper economic partnership, focusing on boosting Egyptian exports and enhancing joint investments, particularly within the BRICS framework. Investment and Foreign Trade Minister Mohamed Farid Saleh met with Russian Deputy Minister of Economic Development Vladimir Ilyichev on the sidelines of the 16th BRICS Trade Ministers Meeting in Jaipur, India, to advance these goals.

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This came during his meeting with Russian Deputy Minister of Economic Development Vladimir Ilyichev on the sidelines of the 16th BRICS Trade Ministers Meeting in Jaipur, India, to discuss expanding economic and trade ties under the BRICS framework.

Saleh highlighted the significant growth in bilateral trade, which reached approximately $5.7 billion in 2025. Egyptian exports to Russia saw a substantial increase of 66%, rising from $485 million in 2021 to $811 million in 2025. Both ministers emphasized the importance of continued coordination within BRICS, noting that their joint membership opens new avenues for trade, investment, development financing, and strengthening supply chains.

Key areas of discussion included cooperation in the grain trade and the acceleration of the Russian Industrial Zone project in Egypt. This zone aims to attract investment and facilitate technology transfer. Egypt also expressed its interest in hosting the 16th joint committee meeting in Cairo in 2027 to further bolster cooperation across vital sectors such as trade, energy, agriculture, and tourism.

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Saleh emphasized ongoing coordination within BRICS, noting joint membership opens new horizons in trade, investment, development financing, and supply chains.

To facilitate direct investment, Saleh urged Russia to streamline visa processes for Egyptian business leaders. The two nations agreed to maintain close coordination to strengthen their economic partnership and maximize the benefits derived from their shared BRICS membership.

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Saleh expressed Egypt’s desire to host the 16th joint committee meeting in Cairo in 2027 to boost cooperation across key sectors including trade, energy, agriculture, and tourism.