RUSSIA HAS APPROVED THE DRAFT AGREEMENT ON CREATION AND PROVIDING CONDITIONS OF ACTIVITY OF THE RUSSIAN INDUSTRIAL ZONE IN EGYPT.

The Russian side has approved the draft agreement between the governments of the Russian Federation and the Arab Republic of Egypt, directed to creation and providing conditions of activity of the Russian industrial zone near the city of Port Said East for localization of production capacities of the Russian companies and the subsequent advance of hi-tech industrial output on the perspective markets of the Middle East and Africa.

The document was prepared and submitted by the Ministry of Industry and Trade of the Russian Federation in pursuance of agreements following the talks between Russian President Vladimir Putin and Egyptian President Abdul-Fattah al-Sisi in Sochi on August 12, 2014.

The operation of the russian industrial zone will help to ensure synergy with the planned Russian projects for the construction of the El-Dabaa nuclear power plant in Egypt, the supply of passenger cars for the Egyptian national railways, the reconstruction of the railway networks of Egypt, the Helwan Metallurgical Combine, the supply of automotive products, shipbuilding, and agricultural machinery.