ABSTRACT
A long visit by an Egyptian economic delegation to Eastern Europe, begun in December 1953, brought about a turning point in political and economic relations between Egypt and the Soviet bloc. In March 1954, Egypt signed two separate agreements with the Soviet Union and Romania. The first agreement was signed on 9 March, at the Egyptian Ministry of Commerce and Industry, between Egypt, the USSR and Romania, under which Egypt was to exchange cotton for Soviet and Romanian petroleum and petroleum products. The second agreement was initialled on 10 March and signed on 27 March between the USSR and Egypt. Egypt was to exchange cotton, rice, rayon yarns and other products for Soviet petroleum and petroleum products, timber, iron and steel products, tractors and agricultural implements, and other goods. Egypt’s exports to China and Soviet bloc countries increased steadily in 1955. These countries took 27 per cent of Egypt’s exports, by value.
