For a long period of time Egypt is a leading partner for the USSR and Russia in the Middle East and Africa. With the assistance of the Soviet Union 97 industrial objects were built in Egypt, including the High Aswan Dam, Helwan Steel Works plant, Nag-Hammadi aluminum plant, which continue to play an important role in the Egyptian economy. After the collapse of the Soviet Union the business cooperation subsided but the last years witness the steady growth.
According to the Russian customs statistics, the commodity turnover between the Russian Federation and the Arab Republic of Egypt in 2014 exceeded 4,6 bln $ which is a 80% growth comparing to 2013 (2 bln 945 mln $).
The Russian exports to Egypt exceeded 4,1 bln $ (91% growth comparing to 2013). The main articles of the Russian export are oil and petroleum products (26%, 1.1 bln $, 1.5 mln tonnes), cereals (24%, 0.98 bln $, 3.8 mln tonnes), wood (10%, 431 mln $, 0.8 mln tonnes), iron (10%, 412 mln $, 0.8 mln tonnes), ground transport and spare parts for it (7%, 283 mln $), sunflower oil (7%, 288 mln $, 365 thousand tonnes) etc.
Egypt delivered to Russia over 520 mln $ of products (24% growth comparing to 2013). The main articles of Egyptian export to Russia are oranges and other citrus (36%, 182 mln $, 198 thousand tonnes), potato (34%, 172 mln $, 308 thousand tonnes), onion (6,8%, 34.7 mln $, 66.8 thousand tonnes), apparel and textile (6,4%, 32.6 mln $) etc.
According to the Russian Federal Agency for Tourism (Rostourism), in 2014 Egypt was visited by 2.99 mln Russian citizens (in 2013 – 2,21 mln visitors, 35% increase), including 2,56 mln tourists and 3,5 thousands of business travelers. The Arab Republic of Egypt keeps its second place among the countries of the world most visited by Russians. At the same period only 15295 Egyptians visited Russia.
The potential projects of mutual interest include the modernization of objects previously built with the assistance of Soviet specialists, including Aswan hydroelectric plant, establishment of special industrial zone for manufacturing Russian agricultural machinery for distribution in the Middle East and Northern Africa. Other projects include activity of Russian automotive industry in Egypt and Africa, delivery of liquefied natural gas by Gazprom, further supply of wheat, participation of Rosatom in the possible building of nuclear power plant.