FEDCOC: Egyptian-Russian Business Forum to be held Monday

Federation of the Egyptian Chambers of Commerce (FEDCOC) will organize the second Egyptian-Russian Forum on Monday that coincides with holding the joint Egyptian-Russian Committee meetings.

The Forum will be attended by Minister of Trade and Industry Tarek Qabil and his Russian counterpart Denis Manturov with the participation of a 100-man delegation from mega Russian companies, ministry officials and heads of the Russian authorities concerned with promoting trade and investment in Egypt.

In statements on Tuesday, FEDCOC Chairman Ahmed el Wakeel said the second Egyptian-Russian Forum will complete the work of the first one that helped increase the volume of Russian investments in Egypt as well as Egyptian exports to Russia.

The forum will be followed by a series of meetings between the Egyptian and Russian companies and authorities concerned with trade and investment, he added.

FEDCOC has recently launched a promotion campaign to lure Russian investments in cooperation with the Egyptian Embassy and the trade representation office in Moscow along with the Arab-Russian Chamber of Commerce, Wakeel said.

He asserted that the Russian companies are seeking to establish more investments in Egypt which has established free trade agreements with Africa and Arab countries whose markets have over 1.6 billion consumers.

Meanwhile, Secretary General of FEDCOC Alaa Ezzeldine said bilateral meetings will be held between the companies and authorities operating in the fields of transport, oil, electricity, aviation, military production, supply, internal trade, health and agriculture.

The Egyptian-Russian Business Council has outlined a strategy for the development of exports between the two countries, he said, noting that the council has also made studies on mechanisms for luring investments and a working plan for the promotion of trade this year.