Media: Cairo is considering supporting Egyptian exports to Russia

The Al-Watan newspaper reported that the Egyptian Ministry of Commerce is exploring the possibility of supporting the export of agricultural products to Russia, by analogy with African countries.

Al-Watan indicated that the measure is under study and aims to help exporters maintain their market shares and ensure that export operations do not decline amid the fallout from the Russian-Ukrainian crisis.

According to Al-Watan, “A letter from the Council of Ministers to the Egyptian Minister of Industry and Trade, Nevin Jameh, revealed that one of the supervisory authorities had carried out an extensive study of the obstacles faced by the export of crops and had developed several proposals, the most important of which was the provision of subsidies for forwarding cargo to Russian ports from the Export Development Fund, similar to how it is done with exports to African countries, provided that it happens during the current crisis.

Al-Watan quoted an official source in the Ministry of Commerce: “The departments concerned are studying the proposal, and a final decision has not yet been made on the possibility of providing support or not.”

The source emphasized: “The importance of the Russian market for the export of agricultural products and the desire of the ministry not to reduce exports and not to lose this market because of its importance.”

The value of the trade exchange between Egypt and Russia is about $4.7 billion at the end of last year, compared to $4.5 billion in 2020, and the value of Egyptian exports is about $500 million, as Egyptian crops account for the largest share export. according to the Egyptian Ministry of Trade and Industry.

Data from the General Mobilization and Statistics Agency shows that Egypt’s exports to Moscow are mainly focused on oranges, fresh grapes, strawberries and mangoes.

While data from the Crop Exports Council showed that prior to the Ukrainian crisis, Egypt exported about $309 million worth of agricultural products to Russia, in addition to this, Russia ranked first among the countries receiving Egyptian agricultural exports with up to $660,000. tons, according to seasonal data Export ends in 2020-2021.

Source: “Dom”

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