(MENAFN- Daily News Egypt) Cairo is seeking to supply Russian markets with goods previously supplied by Turkey but now banned by Moscow in the wake of rising tensions on Syria.
In a statement on Sunday, Minister of Industry and Foreign Trade Tarek Qabil said he was seeking a list of Turkish imports that Moscow had prohibited, with a view to arranging for their supply by Egyptian manufacturers.
Qabil issued the statement after his return from the United Arab Emirates, saying he had discussed the issue with his Russian counterpart, Denis Manturov, offering to replace banned Turkish imports.
On Saturday, Russian President, Vladimir Putin signed a decree to boost national security and apply economic measures against Turkey, which included restrictions in the travel, labour and trade spheres. The decree was in response to the downing of a Russian Su-24 bomber in Syrian airspace by the Turkish Air Force on 24 November.
Russia placed restrictions on various categories of Turkish imports, limiting fruit and vegetable imports to 66%. Limitations were also imposed on imports of clothing and leather.
Qabil said Egypt is able to provide Russia with such products, having huge manufacturing capacity in the relevant sectors.
The Egyptian minister requested a list of products required ahead of a visit to Egypt by Russian importers, during which discussions could be held on how demand might be met. Russian importers and Egyptian exporters could be introduced as a means of promoting trade.
Regarding relations between Russia and Egypt, Qabil pointed to cooperation in the field of automobile production, especially trucks for the domestic market and export to Africa, as a particularly promising area of joint ventures. Egypt has a good base of feeder industries in the sector, he said.
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