Trade Minister Tarek Kabil issued a decision to reshape the Egyptian side at the Egyptian-Russian Business Council for the next three years, headed by Member of Parliament Sahar Talaat Mostafa, Head of the Parliament’s Tourism and Civil Aviation Committee. And membership number of heads and officials of companies and banks.

The decision obligates the Egyptian side of the council to present a biannual report that should include the council’s activities, suggestions, and plans for developing common interests between both countries and attracting more Russian investments to Egypt.

Kabil said that reshaping the council aims at expanding trade and economic relations between Egypt and Russia, pointing out that Egypt’s exports to Russia increased by 35 percent in 2017, reaching $504.5 million, compared to $374.1 million in 2016.

 He said that the fact that Egyptian exports to Russia surpassed $500 million is considered a milestone in commercial ties between Egypt and Russia, adding that the free trade zone agreement between Egypt and the Eurasian Economic Union (EAEU) will help in doubling exports to these markets.