An agreement on comprehensive partnership and strategic cooperation signed between Egypt and Russia on Oct. 17 is expected to upgrade Egypt’s political and economic relations to an unprecedented level, political analysts and economists said this week.

The partnership deal was signed by Egyptian President Abdel Fattah al-Sisi and Russian President Vladimir Putin during the former’s visit to Russia. At a joint press conference with the Russian leader, Sisi said that the strategic partnership agreement “ushers long-standing relations into a new chapter.” Putin said that the deal sets goals that will “deepen Russian-Egyptian ties in different areas.”

Political analysts and economists in Egypt said that the agreement would not only ease trade exchanges and economic relations between the two countries, but will also include high-level cooperation on issues related to counter-terrorism efforts, military deals, illegal migration and nuclear projects.

Ahmed el-Shami, an economist and a professor of feasibility studies at Ain Shams University, said that Russia mainly signs such partnership agreements with Asian countries and not with Arab states, adding that inking such a deal with Egypt signals that Russia is willing to upgrade bilateral ties to a whole new level.