Russia indicates the importance of adopting the ruble and the pound in trade with Egypt

The Russian Minister of Trade and Industry, Denis Manturov, announced that the volume of trade between Egypt and Russia makes it possible to adopt the Egyptian pound and the Russian ruble in commercial transactions between the two countries.

On the sidelines of the Petersburg International Economic Forum, Manturov said that he had discussed with Egyptian Minister of Trade and Industry Nevin Gamea the possibility of adopting the two countries' currencies in inter-trade.

He said, "I am sure that, as is the case with other friendly countries with which we have reciprocal trade and use our national currencies in them, we will use this form of dealing with Egypt."

He added that Moscow and Cairo had agreed to update the intra-Port Said free trade zone agreement.

He stressed that this would give a greater impetus to the economic development of the two countries.

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