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Russia, Egypt preparing to sign range of cooperation agreements

February 09, 2015, 8:59 UTC+3 MOSCOW
Preparations have been launched for signing a memorandum on cooperation in the sphere of attracting investment and the participation of Russian companies in constructing facilities in Egypt
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Cairo

Cairo

© EPA/KHALED ELFIQI

MOSCOW, February 9. /TASS/. Russian President Vladimir Putin on Monday sets off for a two-day official visit to Egypt for talks expected to focus on bilateral and international issues.

Russian presidential aide Yuri Ushakov said Putin and Egyptian President Abdel Fattah el-Sisi are due to hold a tete-a-tete meeting late on Monday. The main program of the visit is slated for Tuesday.

On the sidelines of the visit, preparations have been launched for signing a memorandum on cooperation in the sphere of attracting investment and the participation of Russian companies in constructing facilities in Egypt, and also an agreement between the Russian Direct Investment Fund (RDIF) and Egypt’s investment ministry.

The visit comes at the request of the Egyptian leader who has asked to "devote much more time to personal contacts with Putin to discuss various issues of bilateral cooperation and the most topical international issues in an informal and formal atmosphere," Ushakov said.

"In my opinion, this will be an interesting visit," the presidential aide said.

Putin’s talks in Egypt will focus on the international issues: the situation in the Middle East and North Africa, namely in Iraq, Syria, Libya and also on the Palestinian-Israeli settlement.

The sides will discuss strengthening the coordination of efforts between Russia and Egypt in the international arena, including to fight against international terrorism, and particularly, the Islamic State militant group.

The leaders will also pay special attention to boosting bilateral economic ties. In January-November 2014, the Russian-Egyptian trade reached $4.6 billion, a 80% increase compared with the same period of 2013.

The Russian presidential aide said the prospective areas of cooperation between the two countries are energy, including nuclear power, machinery manufacturing and space spheres.

Putin's previous visit to Egypt took place in April 2005. Dmitry Medvedev, who was the Russian president in 2008-2012, visited the country in June 2009. El-Sisi who took office last June visited Russia in August 2014.

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