Russian President Vladimir Putin and Egyptian President Abdel Fattah el-Sisi have discussed regional problems at a narrow-format meeting.

"We are very glad to see our friends in Russia and share opinions on the development of bilateral relations and on regional problems here in Sochi today," the Russian president said, starting off the restricted negotiations.

Putin stated that the economic ties between the two countries are successfully developing. "Last year we stated a sharp 62% growth in the trade turnover, plus 28% in the first six months of this year," the head of state noted. The Russian state leader stressed that it is the result of the diversification of bilateral ties. "They are rather diversified. They include agriculture, industry, equipment and vehicles," he specified.

The narrow-format meeting was also attended by Russian Foreign Minister Sergey Lavrov, First Deputy Prime Minister and Finance Minister Anton Siluanov, Presidential Aide Yuri Ushakov, Defense Minister Sergei Shoigu and Industry and Trade Minister Denis Manturov. The Egyptian side was represented by Minister of Foreign Affairs Sameh Shoukry, Minister of Electricity and Renewable Energy Mohamed Shaker, Director of the Egyptian General Intelligence Service Abbas Kamel and Vice Minister of Finance Ahmed Kouchouk.