EGYPT

Russia-Egypt Cooperation in Education Becoming More Profound, Minister Says

Exclusive The II International Forum of Ministers of Education “Shaping the Future” takes place on June 10-11 in Russia’s Kazan. It brought together representatives of 46 delegations from 39 countries, including those from African countries. Russia-Egypt cooperation in education is increasingly deepening, Minister of Higher Education and Scientific Research of Egypt Mohamed Ayman Ashour told Sputnik Africa on the sidelines of the II International Forum of Ministers of Education in Russia’s Kazan. Universities of the two countries are actively collaborating: for example, branches of Russian high schools have been established in the African country, the minister noted. “Also, we discussed together how to increase the number of universities by establishing a new consortium in the new city of Borg El Arab, in the north of Egypt, also to boost other universities from Russia, in order to give good new [educational] programs in Egypt. We discussed the new programs in the new technological universities, how to connect between the technological universities here in Russia and in Egypt,” he said. Russia and Egypt are also discussing the introduction of hard science programs at Egyptian universities to support the technological part of the El Dabaa nuclear power plant in the northern part of the country. “We also started to negotiate and to agree together for the new corporation and protocol between our ministry in Egypt and the Ministry of Higher Education here in Russia, and we are looking forward to the cooperation,” the minister concluded. During the forum, the parties held a meeting where the Minister of Science and Higher Education of Russia, Valery Falkov, noted that Russia highly values the long-standing relationship between the two countries (last year marked the 80th anniversary of the establishment of diplomatic relations), during which “a great deal has been achieved thanks to well-structured relations in the scientific and educational sphere.” In turn, Ashour noted the high level of Russian education, reminding that he is a graduate of the postgraduate program at the Moscow Architectural Institute. Today, there are 118 agreements and memoranda in the field of science and higher education between universities in Russia and Egypt, 56 of which were signed in 2023, and 19 more are planned for this year. Examples of active collaboration between the two countries include the branches of Saint Petersburg State University and Kazan (Volga) Federal University opened in Cairo, where more than 750 students are studying. Cooperation in the scientific sphere is also developing. At the moment, the Ministry of Science and Higher Education of Russia is evaluating applications for a new competitive selection of joint applied scientific research projects with African countries, including Egypt. The II International Forum of Ministers of Education is organized by the Ministry of Education of Russia, the Government of the Republic of Tatarstan, and the Foundation for the Support of Humanitarian Sciences “My History.”

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Egyptian Foreign Minister Embarks on Trip to Russia to Attend BRICS Meeting, Spokesman Says

DUBAI (Sputnik) – Egyptian Foreign Minister Sameh Shoukry has left for Russia to attend a meeting of BRICS foreign ministers, Egyptian Foreign Ministry spokesman Ahmed Abu Zeid said on Sunday. The ministerial meeting of the BRICS group of developing economies will take place in the Russian city of Nizhny Novgorod from June 10-11. Russia’s sous-sherpa for BRICS, Pavel Knyazev, estimated that about 20-25 nations were expected to attend. “Foreign Minister Sameh Shoukry left Sunday morning for the Russian city of Nizhny Novgorod to attend a meeting of BRICS foreign ministers,” the spokesman was quoted as saying by the Middle East News Agency. Russia assumed the rotating presidency of the group of the world’s largest emerging economies on January 1. Until recently, the organization consisted of Brazil, Russia, India, China and South Africa. It admitted four new full members in January: Egypt, Ethiopia, Iran and the United Arab Emirates.

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Egypt Considers Possibility of Payments With Russia in National Currencies, Trade Minister Says

CAIRO (Sputnik) – The public and private sectors in Egypt are discussing the possibility of payments with Russia in national currencies, Egyptian Minister of Industry and Trade Ahmed Samir told Sputnik on Monday. “Discussions are now underway in Egypt between stakeholders in the public and private sectors, as well as with the Central Bank of Egypt to explore ways to commercially settle between the two countries in national currencies and work to find a mechanism to realize this,” Samir said. Earlier, Egyptian Financial Minister Mohamed Maait told Sputnik, that Egypt would want to increase the role of the national currencies of Russia and Egypt in trade operations. “Trading in the Chinese yuan and Russian ruble will be of great importance for Egypt. We have commercial and economic agreements with these countries, and we are currently discussing all these issues with specialized institutions,” the minister said. The diversification of currencies used in trade will result in significant economic profit, the politician added.

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Egypt’s Economic Outlook Brightens as External Financing Risks Ease

The upgrade comes as Egypt has secured significant foreign investment from the UAE and financial support from the IMF. The North African country has implemented measures to address its external financing challenges. Global ratings agency Fitch has revised Egypt’s economic outlook from stable to positive, signaling growing confidence in the country’s financial stability. A recent $35 billion real estate investment from the United Arab Emirates is expected to further bolster economic development in the North African country. Moreover, the International Monetary Fund (IMF) recently approved an $8 billion financial support package for Egypt, expected to alleviate the nation’s debt burden.

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Egypt’s Minister of Finance Says His Country Supports Creation of BRICS Grain Exchange

WASHINGTON (Sputnik) – Earlier in January, the Russian Union of Grain Exporters said it may create its own trading platform and trade grain within BRICS without using the US dollar. Egypt supports the creation of a BRICS grain exchange, Mohamed Maait, Minister of Finance of Egypt, told Sputnik. “We are working with them on many tracks: part of it within the newly developed bank, the other part is direct communication about it, also the third part was in BRICS,” Maait said on the sidelines of the IMF/World Bank Spring meetings in Washington, DC. In March, Russian President Vladimir Putin supported this “very good” initiative, saying that speculative trading affects prices and consumers. Given that there are BRICS nations that produce and buy grain, they may be interested in establishing such an exchange, he added. Aside from that, Maait revealed that his country “sometimes” feels the impact of anti-Russian sanctions, however, the two countries know how to address the issue. For example, implementation of Russia’s Mir payment system is currently being discussed with the Central Bank of Egypt. Furthermore, the North African country also hopes to see a greater flow of Russian tourists this year, Maait added.

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