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Egypt and Russia to establish industrial zone in Suez Canal - Daily News Egypt

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Egypt and Russia to establish industrial zone in Suez Canal

No clarification was provided on whether the industrial zone Al-Sisi mentioned and the one Abdel Nour mentioned are the same project

Egyptian president Abdel Al-Sisi stated Tuesday that he has agreed with Russian President Vladimir Putin to establish a Russian industrial zone in the new Suez Canal Project.

In March, Following Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour’s visit to Russia, the ministry announced that a Russian industrial zone focused on producing agricultural machinery and equipment will be established in Egypt.

No clarification was provided on whether or not both industrial zones are the same project. The minister’s spokesman, Yasser Gaber, was not available for comment

The Russian government also approved the Egyptian government’s proposal to begin negotiations regarding the establishment of a free trade zone between Egypt and the countries of the Customs Union, which include Russia, Belarus and Kazakhstan. The minister had requested that negotiations commence in July, following the presidential elections in Egypt, although no further information has yet been made available.

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