Egyptian President Abdul Fattah al-Sisi and Russian President Vladimir Putin signed on Wednesday a strategic cooperation treaty.
The deal is intended to bolster trade and other ties between the two nations.
Sisi had met with Putin in Sochi on Wednesday, capping a three-day visit to Russia.
Sisi said the treaty should "open a new chapter in the history of our cooperation."
The two leaders have developed a close personal rapport and are seeking to expand bilateral ties.
This week's trip was Sisi’s fourth to Russia since he took office in 2014. Putin visited Egypt in 2015 and 2017.
The Russian leader said he and Sisi also discussed expanding arms trade and military ties, noting that Russian and Egyptian paratroopers were conducting a joint exercise in Egypt.
Egypt has signed deals to buy billions of dollars' worth of Russian weapons, including fighter jets and assault helicopters.
When Putin visited Cairo in December, officials signed a deal for Russia to build a nuclear power plant in Dabaa.
Putin and Sisi discussed the implementation of the nuclear plant contract and talked about setting up a prospective Russian industrial park alongside the Suez Canal. Putin added that Russian companies expect to invest up to $7 billion in building industrial plants in the area.
