The Egyptian-African Business Association recently met with the Russian-Egyptian Business Council and the Russian Alfa Group to explore opportunities for enhancing commercial and investment cooperation between Egypt and Russia. The meeting, led by Dr. Yosri El-Sharkawy, president of the Egyptian-African Business Association, aimed to support Russian companies' expansion into the Egyptian market and several African markets. The focus was on sectors such as financial services, investment, communications, and retail trade.
The meeting was attended by representatives from both sides, including Mohamed El-Iraqi, CEO of Brix Trade and a member of the Egyptian-African Business Association, as well as Nina Sukhareva, executive director of the Russian-Egyptian Business Council. The discussions centered on leveraging the Egyptian-African Business Association's network of relationships with the business community in several African countries to facilitate Russian investments in the continent.
The talks also explored the possibility of the Egyptian-African Business Association acting as a liaison between Russian investors and companies, and African markets and business communities. This would support increased trade and investment between the three parties. The two sides emphasized several promising sectors for cooperation, including financial services, investment, communications, and retail trade.
The parties agreed to hold a detailed meeting in the coming days to prepare a joint annual work plan, including activities and moves that serve the interests of both parties and support cooperation between Egyptian and Russian companies in African markets. They also agreed to work on qualifying Brix Trade for accreditation within the BRICS alliance.
The Russian side invited Dr. Yosri El-Sharkawy and other representatives of the Egyptian-African Business Association to participate in the Russia-Africa Global Forum, scheduled to take place in Russia at the end of October 2026. This would provide an opportunity to explore new cooperation opportunities with participating companies and institutions.
The meeting took place against the backdrop of growing economic relations between Egypt and Russia, as outlined in the comprehensive partnership and strategic cooperation agreement signed between the two countries in 2018. This agreement aims to expand economic, trade, and investment cooperation.
The Egyptian-African Business Association's efforts to enhance cooperation with Russian businesses reflect the organization's goal of promoting economic ties between Egypt, Africa, and Russia. By fostering partnerships and investment opportunities, the association seeks to support economic growth and development in the region.
Key points
- Egypt and Russia are exploring opportunities for investment cooperation in sectors such as financial services, investment, communications, and retail trade.
