Supply and Trade Minister Khaled Hanafy called for setting up a strategic alliance with Russia.

In his speech at a session of dialogue between the Egyptian and Russian sides on Tuesday, he added that international economic relations have changed in the current phase and are no longer confined to trade exchange between countries.

He explained that this alliance is aimed at capitalizing on competitive privileges enjoyed by both countries.

He made reference to unique geographic location of Egypt, noting that about 90 percent of the Egyptian territories are not utilized.

Also, human capacity, represented in the energies of young people, is not yet harnessed, he added.