Egypt, Russia Sign MoU To Boost Maritime Trade And Logistics Cooperation
Egypt and Russia have signed a memorandum of understanding (MoU) to strengthen cooperation in maritime trade, transport and logistics, marking a step forward in bilateral economic ties.
The agreement was signed by Egypt’s Minister of Transport Kamel El-Wazir and Nikolai Patrushev, aide to Russian President Vladimir Putin and Chairman of the Russian Maritime Council, during a visit by a high-level Russian delegation representing major maritime, shipbuilding, and shipping companies.
Discussions focused on expanding collaboration in maritime transport infrastructure and logistics, along with developing a roadmap for joint projects, including the localisation of maritime-related industries in Egypt.
Patrushev also held talks with Egyptian President Abdel Fattah El-Sisi, where both sides reviewed ongoing projects and explored new avenues for cooperation.
A key proposal under discussion is the development of a logistics corridor featuring two container terminals, one on the Mediterranean coast and another on the Red Sea, linked to an industrial and logistics zone. The corridor is expected to connect Russian Black Sea ports with the Northern Sea Route, facilitating the movement, storage and processing of Russian industrial goods, petroleum products, and grain.
The two countries also explored opportunities to establish shipyards in Egypt, promote local shipbuilding, expand maintenance services for Russian vessels and enhance maritime infrastructure.
Highlighting Egypt’s strategic location, Patrushev noted its potential to serve as a key hub for trade and exports to African and Middle Eastern markets. He also proposed developing a joint roadmap covering transport corridors, port infrastructure, logistics zones and research collaboration in sectors such as oil, grain and liquefied natural gas.
