Russia-Egypt economic relations will continue to expand, grow: Lavrov
Egpyt's ambassador to Moscow expresses his country's appreciation for Russia's role in assisting Cairo's accession to BRICS.
Moscow and Cairo continue to actively develop their economic and trade relations across various industries, including the nuclear field where Russia is currently building Egypt's first atomic power plant, Russian Foreign Minister Sergey Lavrov said on Monday.
"We are rapidly expanding trade and economic ties. Our mutual trade reached $6 billion in 2022, which is almost 30% more than the year before. In March, another meeting of the intergovernmental commission on Economy and Trade took place, during which new decisions were made regarding further implementation of our joint projects," Lavrov stated during an opening ceremony for an exhibition dedicated to the 80th anniversary of diplomatic relations between the two countries.
Russia's top diplomat also addressed industrial ties between both nations, highlighting the ongoing work to establish a Russian industrial zone in the strategic Suez Canal.
"We see further attempts to legitimize the dominance of a small group of countries on the global stage, but, just like years before, the states that have self-respect and value their own history and traditions are standing up for their right to independently determine the path of their development and choose their friends without any hints and prohibitions from outside. It is on such a basis, on the basis of respect for each other's national interests, that we are developing our strategic partnership with Egypt," Lavrov said.
For his part, the Egyptian Ambassador to Russia, Nazih el-Nagari, expressed appreciation to Moscow for assisting his country in joining BRICS. He also conveyed Egypt's aspirations to make significant contributions to the global bloc and emphasized the economic benefits that membership could offer to Cairo.
El-Nagari also emphasized the historic relations between the two countries, stating that Cairo seeks regional and global stability in cooperation with Russia "as well as with other countries of the world."
As of January 1, 2024, Egypt, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE will become official new members of BRICS, and 16 new countries have applied to join.
One test that BRICS members will come to face over the coming years will be that of solidarity. BRICS, and those willing to join it, will have to express 'in decision' their will to remain together, and these limits will be sorely tested. Cairo will especially face the tough task of managing its aspirations to develop its economy by cooperating with Eastern countries while also maintaining calm relations with its decades-long ally the United States - which is attempting to create counter-blocs in Africa, Central Asia, the Asia-Pacific, and Latin America, all in order for them to act as counterweights to the BRICS.
Read more: BRICS and the challenge of solidarity