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Russia, Egypt Trade Turnover Volumes Maintained Despite Economic Challenges Featured

19 November 2015

Trade Representative of Russia Fyodor Lukashin said that the trade turnover by volume between Russia and Egypt was preserved in 2015 despite the fall of the ruble against the dollar.

This dynamic indicates that “the countries are still interested in developing trade operations with each other”, Lukashin said and this positive outlook has resulted in an increase in the number of requests from both countries to establish a trade relationship.

“The document turnover of the trade mission, in comparison to 2014, has already doubled,” Lukashin said. “It is the incoming requests from Egyptian companies, organizations, ministries and requests from Russian companies and agencies.”

In 2015 not only did the ruble slump in comparison to the dollar, but the Egyptian pound had increased in value. The result was a 25 percent drop in the turnover value for the period between January to September. The Egyptian pound dropped by 60 cents a year during which time the country's exporters were not able to make as much from exports to Russia.

The forecast of the Russian trade office in Egypt was US $3.5 billion – 4 billion for 2015, whereas the index in 2014 had reached a record of $5.5 billion. Lukashin also said that a large portion of the Egyptian exports sent to Russia were agricultural products, including potatoes and oranges.

FruitNews article (Russian): http://www.fruitnews.ru/home-page/fruits/44968-sokhranit-fizicheskij-ob-em-tovarooborota-smogli-rossiya-i-egipet.html
Source: http://ria.ru/economy/20151116/1321909510.html

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