Undoubtedly, the forthcoming talks between Hosni Mubarak and Russian President Vladimir Putin will focus on the Palestinian-Israeli conflict. Russia and Egypt agree that the Mideastern settlement should be based on the road map elaborated by four international intermediaries, including Russia, the USA, the European Union and the United Nations. Moscow highly assesses Cairo's intermediary role in the conflict settlement inside Palestine. Egypt is to bear the main responsibility for the monitoring of the situation in Gaza Strip, if the Israeli troops are withdrawn from this area.
The restoration of Iraq's sovereignty, reforms in the Arab world, and the fight against international terrorism will be on the agenda, as well. The sides have mutual understanding on these issues.
Vladimir Putin will meet with Hosni Mubarak before the G8 summit, with some Arab leaders invited. Egypt decided not to participate in this meeting as it does not agree with US proposals concerning reforms in the Middle East. However, the Russian leader is to voice Cairo's opinion at the summit. Moscow and Cairo believe that reforms cannot be carried out without the settlement of the regional Arab-Israeli, Iraqi and other conflicts. Cairo supports Moscow's striving for the expansion of cooperation with the Organization of the Islamic Conference.
Moreover, the talks will focus on bilateral cooperation in trade and economic sphere. In 2003 Russian-Egyptian trade turnover totaled $416 million and exceeded $700 with account for tourist services.
The declaration on the principles of friendly relations and cooperation and the long-term program on the development of trade, economic, industrial, and scientific-technical cooperation were signed during Hosni Mubarak's previous visit to Russia in April 2001. This time the two leaders will sign agreements to promote trade and economic relations, in particular, a protocol on cooperation between the Russian and Egyptian Chambers of Commerce and Industry and an agreement on the formation of missions of the two countries within the framework of the Russian-Egyptian business council. The council's session will precede Hosni Mubarak's talks.
The modernization of enterprises built in Egypt under the Soviet Union's sponsorship is an important trend of business partnership. For instance, Russian specialists will arrive at the Aswan hydroelectric power plant soon. They will restore 12 turbines of the plant together with Siemens colleagues.
The attraction of investments is an important aspect, as well. The contract between the Russian-based Aviastar company and Egypt's Sirocco Aerospace International worth $200 million is a major investment project in Russia.
Russian companies are investing into Egypt's oil sphere. For instance, LUKOIL Overseas Holding Ltd. is involved in two oil production projects in Egypt.
Direct contacts between Egypt and Russian regions are being successfully established. Russia supplies grain to Egypt and imports Egyptian agricultural goods. Talks on the joint production of Russian cars in Egypt are underway.
Moscow and Cairo hope that President Hosni Mubarak's visit to Russia will help consolidate the achieved results and enter a more productive level of cooperation.
