Russia, Egypt draw closer
After President Abdel Fattah al-Sisi's visit to Russia, Russian and Egyptian trade and security cooperation are stronger than ever.
The official visit of Egyptian President Abdel Fattah al-Sisi to Russia — his first overseas trip outside the Arab world since his election — and the outcome of his talks with President Vladimir Putin have clearly demonstrated the close links among the seemingly disparate crises afflicting the Middle Eastern states, Ukraine and their impact on relations between Russia and the West.
As a result of the visit, the planned cooperation in the field of agriculture will help Russia overcome the possible negative effects of the embargo on its agricultural products imposed by Europe and the United States, as well as allowing Egypt to tackle the most difficult development challenges it faces. It has been revealed that, in the near future, Egypt is ready to increase its supply of agricultural products to Russia by a further 30% (in addition to the 30% increase already seen this year), which now accounts for 90% of Russian imports from that country. Meanwhile, Russia, which this year will reap a record grain harvest of about 100 million tons, will remain the largest supplier for Egypt, providing about 40% of the country's grain consumption. The volume of foreign trade, currently at approximately $3 billion, should double.
It did not go unnoticed by analysts that the Russian leadership is prepared to provide simplified and, in essence, preferential treatment for Egyptian goods entering the Russian market. The talks included discussion of the possible creation of an Egyptian logistics center on the Black Sea coast of Russia, though it is not yet clear exactly where such a center would actually be established. According to Russian Minister of Agriculture Nikolai Fyodorov, a rapid increase in the supply of a number of agricultural products from Egypt could help cover 40-50% of the deficit in those goods that could result from the embargo against Moscow.
In this context, no less important is the possibility of including Egypt in trade and integration arrangements between Russia and its closest allies. Putin declared at the conclusion of negotiations on Aug. 12, “We reached an important agreement on establishing cooperation between Egypt and the Customs Union of Russia, Belarus and Kazakhstan. We are now studying the possibility of establishing a free trade zone.” According to some estimates, the issue is likely to be resolved in the near future.
