Egypt’s Minister of Supply and Internal Trade Ali Moselhy on Sunday said that Egypt’s accession to the BRICS will give impetus to controlling the inflation rates.
Egypt has devoted remarkable effort to promote cooperation with Russia, China and India, Moselhy said in statements to Ten channel, pointing out to the trade agreements that guarantee duty-free customs with Brazil.
“We are capable of cutting down the US dollar deficit at the trade balance by boosting exports and reducing dependency on the US dollar,” Moselhy added.
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