SOCHI, Oct.17 (Xinhua) -- Russian president Vladimir Putin on Wednesday signed the Agreement on Comprehensive Partnership and Strategic Cooperation between Russia and Egypt with visiting Egyptian president Abdel Fattah al-Sisi in the Black Sea coastal city Sochi.

Putin hailed the successful development of the bilateral relations in recent years during the talk with the Egyptian president in Sochi, according to Tass.

"Last year we saw trade upsurge of 62 percent, and a 28 percent rise in the first six months of this year. It is also good to note that we do everything to diversify our ties and we do this successfully," said Putin, adding that ties with Egypt are very diverse covering agriculture, industry and many other fields.

Putin also highlighted the joint projects including the nuclear power plant and the techno park implemented by the two countries, saying the two countries had "established good cooperation mechanisms."

For his part, Sisi said he thought highly of the bilateral cooperation in joint major projects and stressed the importance of coordinating efforts with Russia in fighting against terrorism.

Also at the signing ceremony, a memorandum of understanding on strategic political consultations was signed between the two countries' foreign ministries.

Egyptian President Abdel Fattah al-Sisi is on a three-day state visit to Russia from Monday. On Tuesday, the two presidents had held an informal meeting in Sochi.