Russian Ambassador to Egypt Serge V. Kirpichenko said relations between Egypt and Russia are developing at a quick pace, given the visits exchanged recently.

In an interview with MENA here Sunday, the Russian diplomat said a delegation chaired by the Russian Parliament speaker during his visit to Cairo in January discussed with President Abdel Fattah El Sisi a number of issues.

Russian Minister of Trade and Industry Denis Valentinovich Manturov co-chaired with his Egyptian counterpart Tareq Qabeel the 10th meeting of the joint government economic, trade, scientific and technical committee, he said, adding that he also held talks with President Sisi on current and future cooperation.

The talks covered the nuclear plant project in Dabaa and the establishment of a Russian industrial zone and other ideas pertaining to increasing trade and economic cooperation in the various fields.

Trade between the two countries reached dlrs 5.5 billion in 2014, which was a record, he said, adding that in 2015 the figure dropped slightly due to various fluctuations. However, we are looking forward to the future with confidence and have a plant to increase trade in the various fields, he added.

As for the committee meetings, he said the two sides signed a number of agreements including one on providing Egypt with train coaches and the establishment of a fund between a Russian fund and two Egyptian banks to carry out a number of joint projects.

Concerning investment in Egypt, he said Moscow is highly interested in promoting cooperation with Egypt, adding that the size of Russian investments in Egypt is modest but there are many potentials in this country.

Asked about obstacles facing economic cooperation, he said funding and its terms and conditions especially that reaching an agreement with the Egyptian side is not easy.

As for the security situation in Egypt, he said political stability in Egypt is very important but unfortunately there are attempts by terrorists to attack security personnel and the Egyptian people.

He stressed Russia's confidence in Egypt's success in overcoming terrorism.

Source: MENA