Russia

Russian goods will be produced in Egypt

01-03 March 2017 a delegation of the Ministry of industry and Trade of RF (Minpromtorg) makes an official visit to the city of a thousand mosques – Cairo (Egypt), where Russians discuss the details of the agreement on creating the Russian industrial zone in the SEZ near the Suez canal.

A Memorandum on creating a Russian industrial zone in Egypt was signed in February 2016. Now the intergovernmental agreement on it have to be signed. The beginning of the work on zone is scheduled for December 2018. Russian industrial zone will be located in the Northern part of the country near the Suez canal, on the Mediterranean coast, 20 km from the Port of Saida and 165 km from Cairo. It will have access to the developed infrastructure: road and rail tunnels, as well as to the container terminal. The agreement will open access for Russian producers to other markets, since Egypt has a free trade agreement with Turkey, on the free market for Eastern and southern Africa, and treaties with Islamic countries.

The head of the Russian delegation – Gleb Nikitin, is the first Deputy Minister of industry. In addition to representatives of the Ministry, the delegation includes representatives of Russian producers who consider the opportunity to locate production in Egypt. According to preliminary data, these are the largest companies in automotive, pharmaceutical, oil and gas and engineering industries.

As told to “E-Vesti” members of the delegation: “the Egyptians met with the Russian delegation in a very good manner, it was very warm reception at a high level. The negotiations are very productive. Egyptians are very happy, because for Egypt it is a major project, which will give great impetus to the development of relations not only with Russia but also with other countries.

In the framework of the project, by 2035 there will be built a large city containing many large enterprises».

Detailed questions about who would work on these productions and how the training for them will be provided is a subject for further discussion together with other business issues.

Sources: Russian Industrial Zone in Egypt