RUSSIAN-EGYPTIAN BUSINESS COUNCIL PREPARES EGYPTIAN PRESIDENT'S VISIT TO MOSCOW

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CAIRO, March 30, 2004. (RIA Novosti correspondent Igor Kuznetsov). The Russian-Egyptian business council will hold a session in Cairo on April 4. It will be devoted to preparations for Egyptian President Hosni Mubarak's forthcoming visit to Moscow, council's co-chairman Ahmed Shiha told MENA news agency.

According to him, the Egyptian President's visit to Russia will be a turning point in the development of bilateral economic, trade and investment relations.

The second session of the business council will be held in Moscow during Hosni Mubarak's visit. The foundation of the Russian-Egyptian business center will be announced at the session. The center is to help Russian and Egyptian businessmen to maintain business and search for investments.

According to Mr. Shiha, joint projects in the spheres of motor-car construction, heavy machinery, medicines and exports of joint products to the Middle East and Asia will be at issue, as well.

The volume of bilateral trade reached $498 million in 2003 (about $800 million including services), the co-chairman said.

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