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Russian companies bring their products to Cairo for EGYPS-2018 Petroleum Show

February 13, 6:47 UTC+3 CAIRO

Managing Director of the Russian Export Center Konstantin Evstyukhin told reporters, that Egypt is one of the key vectors of the center's work in Africa

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CAIRO, February 13. /TASS/. Seventeen Russian companies brought their products to the EGYPS-2018 Petroleum Show, which opened on Monday in Cairo. Fourteen of them, including such large ones as Zarubezhneft and Rosgeo, are represented at the joint Russian stand, for the first time organized by the Russian Export Center.

Managing Director of the Russian Export Center Konstantin Evstyukhin told reporters, that Egypt is one of the key vectors of the center's work in Africa, primarily in the North and Central regions. "Last year’s results convinced us to actively develop this direction," he said. "Compared to 2016, our trade grew by 162%. The export of Russian products to Egypt is quite diversified, and a significant part, about 20%, is made up of machinery and equipment this equipment in the oil and gas field," he added.

The Russian side views Egypt also as a hub for access to the African region. "Together with the Ministry of Industry and Trade we are now actively participating in the creation of the Russian industrial zone in Egypt, we have already seen what the Egyptian side offers, specifically with entering the market of North and Central Africa in mind. This hum will play a key part in it," Evstyukhin said.

Participation of companies from Russia in the industrial zone in Egypt is now under consideration, including participation in the oil and gas sector, the car industry, agricultural machinery industry.

"There is a preliminary interest from companies, but it is clear to everyone that these are serious business plans and investments," Evstyukhin said. "It is important to start something here, it's important for us to get Russian business here, to get acquainted with the local market. Thus, within the framework of the show, we focused only on the business program," he added.

The international conference-exhibition EGYPS-2018 is held for the second year in a row and will last until February 14. As part of Egypt's national project to transform the country into a regional oil and gas center, it provides a platform for exchanging experience in this area, presenting the latest technologies and investment opportunities, including in the republic's market.

This year, EGYPS has announced participation of around 400 local and international companies. About 40 sessions will be held. More than 30 countries confirmed their participation in EGYPS-2018 in addition to Russia, including Bahrain, Great Britain, Germany, India, Italy, Canada, China, Norway, United Arab Emirates, South Korea, Saudi Arabia, USA, France.

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