Egypt and Russia are expected to sign an array of agreements next week, including a deal to establish a Russian industrial zone in the Suez Canal area, the Egyptian Ministry of Trade and Industry stated on Sunday. A Russian delegation headed by the Minister of Trade and Industry Denis Manturov is scheduled to meet its Egyptian counterpart on January 31 through February 2. Representatives from 60 major companies interested in energy and transport infrastructure will be part of the Russian delegation. “A number of protocols of understanding will be signed, the most important of which will be the signing of a protocol on the establishment of a Russian industrial zone in the Suez Canal area,” the ministry statement read. During the Russian visit to Egypt, several agreements are due to be signed, including a memorandum of understanding between the Russian Direct Investment Fund and several Egyptian commercial banks as part of the creation of an Egyptian investment fund worth USD 5 billion. A business forum is also scheduled to take place to provide the different parties with an opportunity to discuss ideas and further opportunities for cooperation. With the participation of the Russian Direct Investment Fund and the United…
Egypt, Russia to Sign Deal on Establishment of Industrial Zone in Suez
January 28, 2016
