Putin says trade turnover with Egypt ‘growing steadily’ despite regional tensions

President Vladimir Putin said Wednesday that Russia’s trade turnover with Egypt is “growing steadily” despite regional tensions, as he met Egyptian President Abdel Fattah al-Sisi in Moscow, Anadolu reports.

In opening remarks during the talks, held on the sidelines of the two-day Russia-Africa summit that began in Moscow earlier Wednesday, Putin said joint efforts have accomplished a great deal since the first summit in 2019, as shown by the growth in trade between Russia and Africa.

“Since 2022, the total volume has increased by 50%, surpassing $27 billion. Egypt accounts for a significant portion of this trade turnover,” said Putin, noting that there is much “common ground” between Russia and the continent on development priorities.

Noting that, together with their colleagues, they will discuss the state and future prospects of Russia-Africa engagement and outline new areas for cooperation during plenary sessions Thursday, Putin noted their engagement on the sidelines of the BRICS summit in New Delhi last month.

“The historic relationship between our two countries is rooted in the principles of mutual respect, consideration for each other’s interests and mutual assistance. These relations are developing successfully in accordance with the Treaty on Comprehensive Partnership and Strategic Cooperation,” he said.

Putin noted that trade turnover between Russia and Egypt continues to grow steadily “despite regional tensions,” stating that it has already increased 14% in the first eight months of 2026.

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“In 2025, it reached record levels, exceeding $10 billion for the first time,” he said, praising the joint intergovernmental commission between the two countries.

“The flagship project, the construction of the El Dabaa Nuclear Power Plant in Egypt, is proceeding according to schedule. On July 9, a formal ceremony was held to mark the installation of the reactor pressure vessel for the second power unit,” he added.

Sisi said Egypt is working to develop the strategic partnership and hopes to expand cooperation, primarily in the economy and trade, as well as in areas related to grain supplies.

“Furthermore, the El Dabaa project remains the most significant initiative in our bilateral engagement,” said Sisi, noting they are committed to completing the projects according to the established timelines, and are making “every effort” to meet payment obligations.

He said he is counting on the Russian president’s support to ensure they can deliver the El Dabaa project on schedule.

“We look forward to strengthening and broadening our cooperation. This includes the potential for installing new power units beyond 2030, as well as the development of a research reactor and a testing center,” he said.

Sisi added that they are also interested in collaborating with Russia on small-scale nuclear reactors, including floating nuclear power units, and in deepening their partnership within specialized industrial sectors, such as the extraction of uranium and rare metals.

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