Foreign Minister Sameh Shoukry met with his Russian counterpart Sergey Lavrov and the Russian Minister of Industry and Trade, Denis Manturov, during his current visit to Moscow.

Foreign Ministry Spokesperson, Counselor Ahmed Abu Zeid, said the Russian Minister of Industry and Trade expressed appreciation for the steadily progressing bilateral relations in various levels, despite the tense situation in the Middle East. Russia's minister added that the prospects for mutual cooperation between the two countries are wide, and that he looked forward to enhancing Russian presence on the Egyptian market in light of the many promising opportunities it offers across many investment sectors.

Spokesperson added that the meeting addressed means to boost economic cooperation between Egypt and Russia, as Shoukry expressed his aspiration to increase trade exchange, so as to commensurate with the deep political and strategic relations between the two countries. Shoukry also highlighted the importance to attract Russian investments, particularly in the fields of oil and natural gas, in addition to joint manufacturing via the Russian industrial zone, set to be established in the Suez Canal developmental area.

For his part, Manturov affirmed that his country is counting on achieving further progress in the Russian industrial zone project, noting that his government is currently in the process of recruiting Russian investors wishing to participate in this project, and that many of whom are already willing to invest in it. The Russian Minister added that he discussed such important project with the Eurasian Union members, which includes, besides Russia, Armenia, Kazakhstan, Kyrgyzstan and Belarus. The Minister discussed the project as well as with a number of international partners who expressed desire to invest in it.

Shoukry reviewed the economic reform measures in Egypt and the government’s efforts to create a favorable environment for foreign investment in many production and service sectors. He indicated that it is time to maximize Russian investments in Egypt, especially in light of the existing strong political will and serious desire by both Cairo and Moscow to push forward economic cooperation, and to keep abreast of the significant progress in political and military relations between the two countries.

The two Ministers examined as well areas of coordination in the various international trade and economic forums, and international financing institutions, in addition to means to kick off negotiations for the establishment of a free trade area between Egypt and the Eurasian Union. This is in addition to promoting cooperation with emerging markets and economies, mainly the "BRICS" group.