Egypt and Russia will sign on May 23 a deal on establishing a Russian industrial zone in Egypt during a joint governmental committee meeting in Moscow, the Russian Industry and Trade announced on Friday.
statement on Friday, the ministry said the zone will be a historic step in
furthering the Egyptian-Russian relations.
project will also help tapping new markets for the Russian technological
products in the Middle East, Africa, Europe and Latin
America, the statement said.
On March 7, the Egyptian government approved the creation
of a Russian industrial zone in Port Said,
situated near the Suez Canal.
The total amount of investment in the project is expected to reach $7 billion.