L. Fituni, I. Abramova Resource Potential of Africa and Russia's ...

As of mid 2010, other areas of economic cooperation between
Russia and Egypt included banking, tourist sector, quality control of
exported commodities of agricultural origin, pharmaceutics, and
peaceful space exploration.
On 25 March, 2008, the Intergovernmental Agreement on Cooperation
in the Field of Peaceful Use of Atomic Energy was signed
between the two countries. Signing of this agreement was particularly
timely because the Egyptian ministry of Electric Energy concurrently
adopted a plan for construction of nuclear power stations
along the country’s Mediterranean coast. The first plant may enter
into exploitation in 2015–2016. The estimated cost of the planned
project is 1,5 billion USD.
Russian President Dmitry Medvedev's 2009 visit opened up new
prospects for cooperation between Russia and Egypt. During the
visit Cairo paid Moscow the courtesy of supporting its initiative to
convene a Middle East peace conference in Russia's capital before
the end of 2009 (the conference did not take place). In Cairo, Russia
and Egypt signed a strategic partnership agreement between the two
countries. It, in particular, has every chance of success because
Cairo is becoming increasingly irritated at the constant criticism
from Washington, especially on the human rights issue. Under the
circumstances, Russia may again get access to an area which the
Americans have held sway for almost 40 years, namely military
sales. Specifically, according to available data, the Egyptian military
is looking at the possibility of acquiring Russian S-300 or S-400 air
defense missile systems in view of the increasing missile threat from
Iran.
A noteworthy event in bilateral relations was the September 15,
2010 announcement of the establishment of a working group to consider
agro-industrial complex within the framework of the Russian-
Egyptian intergovernmental commission on trade and economic cooperation.
At the same time, Egypt proposed a long-term agreement
for the sale of Russian wheat to Egypt that must clearly spell out
mechanisms for determining compliance with the phytosanitary requirements
of Russia and Egypt, and must also specify the authority
responsible for oversight and inspection in this area.
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