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Russian President Vladimir Putin has met with President Abdel Fattah el-Sisi of Egypt at the Kremlin on Friday, and described the country as one of Moscow’s “key partners in Africa.” An Egyptian delegation traveled to Moscow to take part in the Victory Day parade on Red Square, and also held bilateral meetings.
Putin described the current Russian-Egyptian relations as developing successfully and “supported by regular and substantive political dialogue.” He noted that Egypt joined BRICS in 2024 and that, by the end of last year, bilateral trade had grown by more than 30%, reaching a record US$9 billion. He added that trade increased by another 80% in the first two months of this year. If that pace is maintained, bilateral trade could hit US$17 billion for 2025.
Russia’s trade with Egypt is increasingly multi-faceted and ranges from nuclear power plants, to oil and gas, fertilizers and agriculture, including significant grain exports. The two sides are currently negotiating the establishment of a Russian Free Trade Zone at Port Said, while Russian railways are also investing in the Egyptian rail network.
As a member of several trade agreements, Egypt enjoys access to various international markets. Key trade agreements include the Greater Arab Free Trade Area (GAFTA), which reduces tariffs and trade barriers among Arab countries; the Comprehensive Economic Partnership Agreement (CEPA) with the European Union, which grants preferential trade terms for Egyptian goods; and the Egypt-EU Association Agreement, which provides access to the EU market, benefiting key sectors such as agriculture and textiles. Egypt is also a member of the Common Market for Eastern and Southern Africa (COMESA), Egypt-China Free Trade Agreement, Egypt-India Free Trade Agreement, and is engaged in African Continental Free Trade Area (AfCFTA), which facilitates greater regional integration. Additionally, Egypt has agreements with the United States and Mercosur (Argentina, Brazil, Paraguay, Uruguay) to enhance trade.
Egypt is a also a full member of BRICS and a dialogue partner with the Shanghai Cooperation Organisation. It is also close to reaching a Free Trade Agreement with the Eurasian Economic Union.
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