At the talks that were held in the Kremlin, Vladimir Putin and the President of Egypt, Hosni Mubarak, expressed their satisfaction with the development of political, economic and cultural contacts between the two countries.
Russia and Egypt successfully cooperate in the international arena and in resolving important regional problems, including the problem of finding a settlement in the Middle East.
The Russian-Egyptian business partnership is developing actively. In 2005 the volume of trade between the two countries exceeded 1,6 billion USD. Extensive prospects for trade and economic cooperation are being created in energy, oil, gas and high-tech sectors. A decision to establish a special Russian industrial zone in Egypt has been made.
The Russian-Egyptian University that will open in 2006 in Cairo will help ensure more contacts in the cultural and educational spheres as well as fruitful work between both countries’ academic communities.