The Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat met with Sergey Stolyarov, CEO Russian Railways International (RZD) and Sergey Pavlov, the First deputy CEO JSC of Russian Railways, to discuss joint cooperation in the transportation sector. Al-Mashat stressed that the Government of Egypt is interested in developing its transportation sector and enhancing its sustainability, all while further connecting cities and communities. This would help in increasing the effectiveness of the development plans being implemented, noting that the transportation sector accounts for over 20% of the ongoing development cooperation portfolio in the Ministry of International Cooperation, amounting to $5.13 billion. These funds contribute to many projects, including the development of metro lines, the implementation of the national road projects, and the modernization of railways. Al-Mashat also mentioned that there is continuous coordination between the Ministries of International Cooperation and Transportation to strengthen international partnerships with multilateral and bilateral development partners; in hopes to provide the necessary financing and expertise to develop a fully rounded, sustainable transport sector. In 2018, a contract was signed between the Railways Authority and a Russian company called, Transmashholding, Russian-Hungarian, to manufacture and supply 1,300 new railway cars of which 375 have been delivered. There are also a number of projects proposed that will be implemented between the Ministry of Transportation and the Russian Railways. The Egyptian-Russian relations are made up of comprehensive partnerships and strategic cooperation agreements; October 2018 in Sochi, many development agreements were signed strengthening the bilateral relations between the two countries and aiding in achieving common interests, alongside economic growth. The St. Petersburg International Economic Forum (SPIEF) is one of the largest, global economic events organized annually in St. Petersburg, Russia since 1997. The forum is a leading global platform for global communication between representatives of the business community aiming to discuss major economic challenges facing Russia, emerging markets, and other countries around the world. More than 10,000 people from over 120 countries participate in the forum annually as it brings together heads of state from governments, ministers, deputy prime ministers, and CEOs of major Russian and international companies, foreign banks, leading experts and other political and business leaders.