Business & Economy

The volume of Russian trade with the Arab world

Director of the Russian Export Center Veronika Nikishina revealed the prospects for trade and economic cooperation with the countries of the Arab world, noting that Egypt is an important trading partner for Russia.
The Russian official said that the volume of Russian exports, without the energy sector, to the countries of the Arab world, in the first five months of this year, exceeded the level of $5 billion, an increase of 27% over the same period last year.
The director of the Russian Export Center, an agency for the development and promotion of Russian exports, pointed out that the volume of exports to the Arab world indicates that the potential and prospects for cooperation have not been fully invested.
Egypt is one of Russia’s major trading partners in the Arab region
She added that Egypt is one of Russia’s major trading partners in the Arab region, noting that Russian exports to this Arab country amount to about $4 billion, pointing to a contract signed by Transmash Holding with the Egyptian side to supply 1,000 railcars.
Regarding future contracts, she indicated that a businessmen’s version of the Russian “Super Jet” plane will soon be presented to partners in the Arab world, stressing that the center has great plans to find ways to double Russian exports.
With regard to the Russian industrial zone project in Egypt, she said that work is underway to build the zone, adding that more than 40 Russian companies are interested in consolidating their industries in the zone to benefit from the free trade agreements signed between Egypt and other countries.
The UAE is a global hub for trade
She also pointed to the importance of cooperation with the UAE, which is considered a global hub for trade, and said that Russian companies participate in many exhibitions in the UAE to increase their presence in the Gulf region.
According to Trade Map data, Russian exports amounted to about $337 billion in 2020, which indicates that not all potentials with Arab countries have been exploited.

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