“The turnover between Russia and Egypt increased by almost 14 percent by December 2016, totaling $3.5 billion over three-month period. Russia’s export grew by 10 percent and the import from Egypt decreased by 10 percent. I hope that we have reached some $4 billion as of the end of the year,” Lukashin said.
Lukashin added that the 11-percent increase of the Russian export over the year’s 11-month period occurred mostly due to the delivery of agricultural raw materials, food and metals.
Lukashin also noted that the export from Egypt had dropped due to the 46-percent decrease in the supply of vegetables.
Moreover, over the past 1.5 years Russian companies invested about $1.5 billion in the development of Egypt's oil and gas sector, Lukashin added.
"The [Russian] trade mission organized a number of talks between Russian oil and gas companies and Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla. The Egyptian oil and gas business needs huge investment and our Egyptian colleagues are interested in visits of potential investors," Lukashin said.