Why Is Egypt Main Guest At The Russian Economic Forum?

Abdel Fattah al-Sisi

Egypt Egypt-The ongoing Ukraine Russia war might have thrown Russian economy out of rhythm but they are finding their balance back again. In a forthcoming St. Petersburg International Economic Forum, Egypt has been given a special chair at the table. The Egyptian President Abdel Fattah El Sisi has been invited as the guest of honour and would be attending the forum through a video link, while a special Egyptian delegation comprising ministers and business people are already on their way to attend the forum.

Almost 80percent of Egypt’s wheat is imported from Russia and Ukraine. With the war, the supplies have been dwindling, making it difficult for the country to survive. While India has come to its rescue, its dependency on Russia is evident. Egypt government has already said that it has no choice but to make plans to diversify its wheat sources.

Maybe, Russia sees this as an opportune time to reach out to this large buyer and take it under its wing. Egypt along with another 140 other countries had voted in March, in favour of a UN General Assembly resolution that called for a halt to Russia’s invasion of Ukraine and an immediate withdrawal of its forces. There were definitely economic concerns at play.

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But Russia doesn’t seem to be angry with Egypt; as it offers the prime spot on the table, along with the attendance of high-ranking delegations and the top executives of major foreign companies and banks in more than 40 countries. Additionally, none of those on Putin’s list of ‘unfriendly countries’ would be allowed to attend this forum which will discuss economic sanctions, repercussions and unfair interference in sovereignty of countries.

The list of ‘unfriendly countries’ includes Ukraine, all of the EU nations, the US, UK and Japan, among others. The list became active after Vladimir Putin, signed a decree to introduce visa restrictions for citizens of countries on the list, which singled out some EU countries and Norway, Switzerland, Denmark and Iceland.

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