SCO & BRICS latest news and insights
By Rhod Mackenzie
Russia's share of Egypt's wheat imports has increased to 68%, up from just over 55% last year, according to Akram Hossein al-Shafei, a member of the board of the Egyptian Chamber of Commerce and Industry. He told RIA Novosti that Russia and Ukraine account for 80% of Egypt's tota...
Egypt is planning to urge BRICS member states to trade in their national currencies, according to a statement by the Ministry of Foreign Affairs, quoting the newly appointed Personal Representative of President Abdel-Fattah El-Sisi to the BRICS Summit Ambassador Ragy El-Etreby.
El-Etreby indicated...
Egypt and Russia are in talks about establishing a logistics center in the Suez Canal zone for storing wheat supplies from Moscow, Sputnik reported, citing the North African nation's Ministry of Supply and Internal Trade.
Cairo, which counts Moscow as its major grain supplier, had previously said...
By Rhod Mackenzie
According to a statement released by the Ministry of Foreign Affairs earlier this week, Egypt intends to negotiate a transition from the US dollar to national currencies for trade settlements with other BRICS countries.
The ministry stated that using national currencies would r...
Following South Africa's decision to trigger preferential trade as part of the free trade agreement with Egypt, sources from the latter country have highlighted the initial benefits of the nation's BRICS group membership.
This move signifies a fresh era of economic collaboration and paves the way...
By Mohamed Al-Kazzaz
Vladimir Kazbekov, the vice President and CEO of the New Development Bank (NDB), was in Cairo to launch the bank’s operations in Egypt.
Established in 2015 by the BRICS group of countries consisting of Brazil, Russia, India, China and South Africa, the NDB is a multilateral...
