African-Russian chamber of commerce to be established during 4th EIF in Egypt

CAIRO - 12 December 2018: Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC) Ahmed el Wakil said that there are ongoing efforts to establish an African-Russian chamber of commerce during the 4th Egypt Investment Forum (EIF) due on February 9 in Cairo.

Wakil's remarks came on Wednesday during a Russian-African forum.

Egypt played a great role in establishing African chambers with international economic blocs and major countries including China, Japan, Korea and Arab states to develop trade and investment exchange, he said.

Wakil said that the Russian-African cooperation forum hosted by Egypt aims at boosting trade and investment ties and benefiting from Africa's immense human and natural resources.

Achieving a fruitful cooperation between the African and Russian sides needs increased efforts to develop the infrastructure and the transport and logistics sectors across the continent, he said.

Russia should seize the available opportunity to be a main trade and investment partner for Africa especially in the fields of agriculture, new and renewable energy and transformative industries, Wakil said.

He pointed out that Egypt is doing its utmost to create an investment-attractive climate and its markets are open to serious investors from all countries of the world who are willing to invest in new sectors and big projects.