CAIRO, 12 January 2021 – A comprehensive partnership and strategic cooperation agreement signed in 2018 between Egypt and Russia entered into force on Sunday.
In a statement, the Russian foreign ministry said Monday that the partnership will strengthen political cooperation, economic development, trade and investment facilitation, and deepen cultural ties.
Trade between Egypt and Russia expanded 37 percent from 2017 and 2018, the most recent years for which Africa Freedom Network has data.
The deal also covers military cooperation and partnership in the sciences and education, in tourism, humanitarian cooperation and in advancing exchanges between non-governmental, youth and sports organizations.
Even before the agreement, Russia was doing brisk business in Egypt.
A Russian Industrial Zone operates in the Suez Canal Economic Zone since April 2018.
Russia won the contract to construct the Dabaa nuclear power plant in Egypt.
When completed, the plant is expected to increase Egypt’s power production by up to 50 percent.
In 2019, Russia completed an order worth $1.5 billion from Egypt, allowing Moscow to sell 20 Su-35 fighter jets to Cairo.
The partnership agreement was sealed on 17 October 2018 by Russian President Vladimir Putin and his Egyptian counterpart, Abdel Fatah al-Sisi, during the latter’s visit to Sochi, Russia.
The partnership is valid for an initial period of ten years.
It is renewable for five-year periods each time after the initial ten-year period.