Egypt’s membership in BRICS to contribute to taking important decisions in future

Egypt will contribute to taking important decisions on developing the world in the future especially in the field of economy and coordination on its foreign policy, Borisenko said in statements to MENA on Tuesday.

The member states of the bloc want to establish a multipole system to be more just instead of the single-pole system, he said, pointing out that the BRICS started using local currencies in trading and implementing economic development projects.

Using the local currencies will be useful to all the countries that joined BRICS recently including Egypt to solve the problem of hard currency, he said.

The BRICS member states are working on creating suitable circumstances for mutual investments with the countries, he said, adding that Egypt would get more investments and capitals from China, India and Russia.

He said that 2023 witnessed an intensified political dialogue between Egypt and Russia, adding that there is continuous dialogue between the foreign ministers of both countries.

The Russian investments in Egypt are estimated at 4.5 billion dollars in addition to 7 billion dollars expected to flow into the industrial zone investments, he said.

The trade exchange between both countries reached 6.1 billion dollars in 2022, he said, adding that it would reach 7.2 billion dollars by the end of 2023.

On tourism, he said that the number of Russian tourists who spent their vacations in Egypt reached 1.5 million tourists by the end of 2023, adding that 18 daily flights between the Russian cities and the resorts in Egypt.