General Federation of Chambers of Commerce, announced the organization of the Russian Egyptian Forum II, next Monday, in line with the meetings of the Egyptian-Russian Joint Committee, which attended by the ministers of trade and industry from the two sides and more than 100 major Russian holding companies and heads of Russian bodies concerned with funding, and the development of trade and investment.
Ahmed Al-Wakil, Chairman of the Federation of Egyptian Chambers, and the Council of the Egyptian-Russian Business, said that the second forum comes as a continuation of the first forum, which led to increase Russian investments in Egypt and increasing Egyptian exports to Russia. The second Forum will be followed by bilateral meetings with Egyptian companies and organizations interested in trade cooperation and joint investment.
He said that the Federation made several promotional campaigns to attract Russian investment in collaboration with Dr. Mohammed El Badry, Egypt's ambassador to Russia, the Egyptian commercial office in Moscow, the Russian-Arab Chamber and the Union of Russian Chambers, which have succeeded in raising the number of participating companies in Forum II.
He added that Russian companies seek to invest in Egypt as well as make joint manufacturing with Egyptian companies ,explaining that the focus will be on the trade and to bring Russian imports from the EU and Turkey after the ban now, especially in the field of agricultural and food products, furniture and garments.
He explained that the participating companies covers the sectors of finance, tourism, agriculture, and manufacturing of cars and heavy transport and construction equipment, roads, agricultural machinery, the manufacture of aircraft, ships, locomotives and equipment for railways, nuclear power, solar energy and its applications, storage equipment for trading grains and cereals, pharmaceutical industries, medical equipment, agriculture and land reclamation, oil and gas exploration, mining, metal and engineering industries, Contracting & Real Estate Investment , construction materials , water desalination as well as modernizing factories established in the sixties time by Russian technology.
He reviewed the mechanisms of attracting investment and action plan to promote through this year, and support the results of the delegation who participated in the Sharm el-Sheikh conference, pointing out that the Egyptian-Russian relations as growing imports and exports and private investment doubled after 4 presidential summits held in the last period.
