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Putin-Morsi meet amid Egypt economic crisis
April 18, 2013, 10:44 am


The Egyptian and Russian president met on the sidelines of the BRICS Summit in Durban last month [PPIO]

Egyptian President Mohamed Morsi is heading to Russia’s Olympic city of Sochi to meet his Russian counterpart Vladimir Putin on April 19.

During the working visit the sides will continue the discussions they started on the sidelines of the March 2013 BRICS Summit in Durban.

The presidents will discuss “a wide range of bilateral cooperation issues: increasing trade and economic interaction, developing ties in education, science and tourism sectors”, says an official statement.

The Middle East peace process, Syria and Libya are expected to be high on the discussion agenda of Putin and Morsi.

President Morsi will be accompanied by oil, electricity, transportation and foreign ministers.

Egypt is currently experiencing political and economic crises, particularly fuel and foreign exchange shortages.

The egyptian currency has raised concerns about further hikes in inflation and prices, which would not allow quick economic recovery.

The focus of the visit is likely to be on tighter cooperation, including deliveries of Russian natural gas, investment and tourism.

Egypt is one of the top tourist destinations for many Russians, with over 2 million Russians visiting Egypt last year.

Trade turnover between the countries reached $3.5 billion in 2012.

Earlier this year Egypt officially expressed intention to join the BRICS club of emerging markets.

Daria Chernyshova