Trade Minister Holds Meetings With Russian, Ugandan, UN Officials

Trade and Industry Minister Amr Nassar held a series of meetings with senior officials, who partake in the Intra-African Trade Fair that will conclude , to discuss opportunities for future cooperation.

The meetings included a one with a delegation representing a large number of Russian companies, headed by the Russian deputy minister of trade and industry, the Trade and Industry Ministry said in a statement, adding that he also conferred with the Ugandan trade and industry minister and met a delegation of the United Nations Economic Commission for Africa (UNECA).

Nassar mulled with Russia's Deputy Minister of Industry and Trade Vasily Osmakov progress in the implementation of Egyptian-Russian ventures and reviewed the latest economic developments at the regional and international levels in the presence of Russian Ambassador in Cairo Sergey Kirpichenko.

The Egyptian minister stressed the importance of intensifying joint efforts to take concrete steps regarding the projected free-trade agreement between Egypt and the Eurasian Economic Union (EAEU) and the establishment of the Russian industrial zone in Suez Canal Corridor.

An Egyptian delegation that will include a number of officials of the General Authority For the Suez Canal Economic Zone is set to visit Moscow in early 2019 to promote the projects of the Russian industrial zone here, Nassar pointed out.

He pointed to the possibility of establishing Egyptian-Russian investment projects in African states.

Osmakov, for his part, affirmed his country's keenness to boost Egyptian-Russian economic relations to unprecedented levels and make good use of the unique political ties between Cairo and Moscow.

The biggest Egyptian-Russian fair titled "Arabia" will be held in the next year from October 10 to 13, 2019, Osmakov noted, adding that the exhibition will include various sectors like heavy industries, machinery, transportation and energy.

Nassar agreed with Ugandan Minister of Trade, Industry and Cooperatives Amelia Kyambadde on sending a delegation of Egyptian businessmen and investors to Uganda in the first quarter of 2019 to get acquainted with investment opportunities in the Ugandan market.

Meanwhile, Kyambadde said that her country is looking forward to having a strong economic partnership with Egypt which is one of the most important markets in the Middle East region, pointing out that Uganda has a great mineral wealth from which Egypt could benefit.

During the Egyptian minister’s meeting with Director of the ECA Office for North Africa Lilia Hachem Naas, he said Egypt will launch an initiative for digital transformation in the production and export sectors in January, adding that Egypt is willing to transfer its industrial expertise to its fellow African countries.

Naas, for her part, said that Egypt's success in winning a final endorsement of the African Continental Free Trade Agreement by the countries of the continent, under its coming presidency of the African Union, will reflect its leading role in Africa.