Russian Commercial Attaché to Egypt Fedor Lukashin said Monday the Egyptian side of the Russian-Egyptian Business Council has proposed investments worth $135 billion in 120 projects as the council convenes today in Cairo.

Meanwhile, Chairman of the Russian-Egyptian Business Council Michel Shamil Orloff told Sputnik news agency that the volume of trade exchange between the two countries stands at $5 billion.

The two-day council meeting will group representatives of major Russian automotive manufacturing, pharmaceuticals and air industry companies.

A Russian delegation led by Industry and Trade Minister Denis Manturov had arrived in Cairo for the event.

Representatives of the private sector and government bodies from both Russia and Egypt will probe aspects of cooperation during roundtable discussions in several domains, including investment projects, innovation technology in the shipbuilding industry, machinery engineering and manufacture of agricultural machinery.