Egypt and EEU close to free trade agreement

President Abdel-Fattah El-SisiEgypt and the EEU could conclude a free trade agreement in the near future, according to Georgy Petrov, Vice President of Russia’s Chamber of Commerce and Industry.“Egypt is one of Russia’s leading trade partners in the Arab world,” he told a news conference yesterday (January 24), adding that bilateral trade between the two countries had reached a record high of $4.3bn last year. “We should now be thinking about what our cooperation will look like in the long term,” he said. “We can rely on big investment projects. Many Russian enterprises are interested in the Egyptian market and we also import oranges, potatoes and onion from there he said. Egypt’s President Abdel-Fattah El-Sisi invited Vladimir Putin to visit Egypt during a trip to Moscow last August and the Russian president is expected to take up the offer in the early part of 2015. ITAR-TASS