In a significant development, trade between Russia and Egypt surged to $8 billion in 2024, reflecting a robust strengthening of economic ties between the two nations. Russian Ambassador to Egypt, Georgiy Borisenko, announced this milestone during the Cairo International Book Fair, highlighting an increase from $7 billion in 2023. This growth is attributed to various factors, including the export of 9 million tonnes of wheat from Russia to Egypt in 2024, which plays a crucial role in meeting Egypt's food security needs [abaee1b3].
The burgeoning trade relationship is further supported by key infrastructure initiatives, such as the construction of a nuclear power plant and the establishment of a Russian industrial zone in Egypt. Both countries are actively seeking to enhance investments in transportation, infrastructure, and technology, aiming to create a more integrated economic partnership [abaee1b3].
In addition to these developments, Belarus and Russia have been reinforcing their trade and economic cooperation, as discussed in a recent meeting of the High-Level Group of the Union State Council of Ministers in Minsk. This meeting focused on various aspects of trade, including transport connections and customs duties, emphasizing the importance of synchronizing efforts to boost economic ties [bfec6df9].
Meanwhile, Libya has also entered into agreements with Russia to expand economic cooperation, with discussions centered around enhancing trade and investment ties. The General Union of Chambers of Commerce, Industry and Agriculture of Libya signed a joint agreement with its Russian counterpart to facilitate communication and cooperation in foreign trade [bd7883fc].
Moreover, the Russian Ambassador to Libya, Aydar Aganin, has been actively engaging with Libyan officials to discuss the expansion of Russian product exports, particularly grains and fertilizers. This is part of ongoing efforts to solidify trade relations, which have been a focus since earlier discussions in 2024 [8ee764b6].
Additionally, China has invited Libya to strengthen its trade and investment ties, with plans for a joint economic forum in Tripoli in early 2025, showcasing the broader regional dynamics at play [cef20dfe].
These developments across Russia, Egypt, Belarus, and Libya illustrate a concerted effort to enhance economic cooperation and trade, reflecting a growing trend of strategic partnerships in the region [462d51a3] [2eeca37b].