According to Mr. Shiha, at the session, the Egyptian businessmen will discuss implementation of joint projects in the sphere of mining, oil, natural gas, civil engineering, agriculture, light industry, banking and tourism with their Russian colleagues.
Egypt will open a permanent office in Moscow.
Mr. Shiha stressed that the council would create a database about the business and trade possibilities of both countries and perspective economic projects.
In 2003, Egyptian-Russian trade amounted to $500 million.
The sphere of economic partnership is expanding: groups of Russian specialists are working in Egypt; reconstruction work on the Aswan Damn will begin soon; LUKoil is successfully working in Egypt; a project to build a plane at the Ulyanovsk aircraft plant is being funded by Egyptian investors; and the VAZ assembly plant in Egypt produces about 3,000 Russian cars a year.
The Egyptian president will visit Russia on May 28-29.
