Published On: Tue, Feb 2nd, 2016

Protocol on Russian industrial zone in Egypt to be signed Tuesday

TCP : A protocol on the establishment of a Russian industrial zone at Egypt’s Suez Canal Axis will be signed by the industry ministries of the two states Tuesday, Youm7 reported.

Prime Minister Sherif Ismail

Prime Minister Sherif Ismail

Prime Minister Sherif Ismail will also meet with a Russian delegation visiting Egypt on the sidelines of the Egyptian-Russian business council.

A Russian trade and industrial delegation visited Egypt last July to select a location to set up the industrial zone, after President Abdel Fatah al-Sisi had announced in February 2015 that he and his Russian counterpart Vladimir Putin reached a deal to establish a free trade zone.

The delegation comprised 20 representatives from Russian major companies in the fields of transportation, agriculture, civil aviation, heavy industry, shipbuilding, energy and telecommunications.

Egypt has embarked on an ambitious plan to develop the Suez Canal Axis to attract major investments; Egyptian ministers have held talks with numerous European and Asian countries to invest in the promising area.

The Cairo Post

About the Author

- nsnbc international is a daily, international online newspaper, established in 2013. nsnbc international is independent from corporate, state or foundation funding and non-partisan. nsnbc occasionally republishes selected articles from other media. Republication of articles does not imply that we agree with media's editorial policy. nsnbc international is free to read and free to subscribe to. We appreciate and depend on modest donations from our regular readers; such as the equivalent of the price of one print newspaper per month.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>