H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Maxim Oreshkin, Economic Advisor of Russian President Vladimir Putin, on the sidelines of her participation in the ninth annual meeting of the Bank’s Board of Governors, held under the theme "Investing in a Sustainable Future" in Cape Town, South Africa.

The two discussed the economic relations between Egypt and Russia, focusing on the coordination and cooperation between the two countries on various regional and international issues. In this context, H.E. Dr. Al-Mashat emphasized the Egyptian government's appreciation for the bilateral relations that have developed over decades, as evidenced by the mutual visits of the two nations' leaders and the signing of the Comprehensive Partnership and Strategic Cooperation Agreement in 2018. She commended the Egyptian-Russian relations in the energy sector.

H.E. Minister Al-Mashat also highlighted the government’s openness to various forms of cooperation with friendly nations to enhance economic collaboration on issues of mutual interest. She noted that Egyptian-Russian economic relations have significantly advanced through the signing of numerous agreements that promote trade exchange and joint investments. Additionally, H.E. Dr. Al-Mashat mentioned the convening of the 14th session of the Egyptian-Russian Joint Committee for Trade, Economic, Scientific, and Technical Cooperation in 2023.

The discussions also covered mutual cooperation within the framework of the New Development Bank (NDB), which aims to strengthen efforts among developing countries and support investment in infrastructure. Notably, 40% of the NDB's financing is allocated to climate action projects. H.E. Dr. Al-Mashat pointed out the tools available to the NDB to stimulate technology transfer, knowledge exchange, and expansion in food security and energy solutions, as well as infrastructure development in member countries.