Egypt's Sisi hails Russian support in Putin talks

Egyptian president Abdelfattah al-Sisi hailed Russian support for Egypt's economic projects as he met President Vladimir Putin at the BRICS summit in Kazan.

In statements aired by Russian news agencies, Sisi praised "the development of bilateral relations" between Egypt and Russia in recent years, in particular, Moscow's "effective contribution to (Egypt's) national projects".

Chief among them, Sisi said, is Egypt's first nuclear power plant at El-Dabaa on the Mediterranean coast, built by Russia's state atomic energy corporation Rosatom.

.

Keep Reading business

•  How CS Mbadi's proposed new tax measures will directly affect you
•  Global real estate investors find sweet spot in alluring Watamu Premium
•  Why construction sector is vibrant in semi-arid counties Premium
•  How housing initiative changes lives of widows in Rarieda Premium
•  KRA surpasses monthly target as October revenue hits Sh210b Premium

Putin during the meeting called Egypt a "long-term and reliable partner of Russia" and said "Egypt accounts for about a third of all trade turnover between Russia and Africa", according to Russian media.

This week's BRICS summit is Egypt's first as a member, following its joining in January in the midst of a crippling economic crisis in the Arab world's most populous nation.

Starting with four members -- Brazil, Russia, India and China, when it was established in 2009 -- BRICS has since expanded to include other emerging nations including South Africa and Iran.

In Kazan, Sisi aims to "discuss the need to reform the global financial structure" to champion the interests of "developing countries", his office said Tuesday.

Cairo is currently undertaking structural reforms in line with an $8 billion-dollar International Monetary Fund loan which Sisi warned this week could put "unbearable pressure" on Egyptians, forcing his government to "re-evaluate" their deal with the Washington-based lender.

During his meeting with Putin, Sisi said Egypt supports BRICS becoming "a platform capable of confronting the repercussions of international crises".

Russia is playing host to some 20 world leaders -- including China's President Xi Jinping, India's Prime Minister Narendra Modi and Turkey's President Recep Tayyip Erdogan -- in a forum aimed at challenging the West.

The gathering is the largest diplomatic event in Russia since it sent troops into Ukraine in February 2022.

Despite Western attempts to isolate Moscow -- namely by Washington which provides Cairo with key military aid -- Egypt has maintained close ties with Russia, prioritising its own economic interest.

In an online ceremony in January, Sisi and Putin hailed a "new phase" in Egypt-Russia relations as they launched the construction of a fourth generating unit at El-Dabaa.