Egypt, Russian, UAE in consultations to set up industrial zone

Egypt is consulting with the Russian and UAE sides to establish a Russian industrial zone in Egypt's East Port Said area, Trade and Industry Minister Tarek Qabil said on Sunday.

The industrial zone will include autos, agricultural equipment as well as construction equipment, he pointed out.

In a statement, the minister pointed out that Sharm El Sheikh city will host early February the Egyptian-Russian joint meetings that will discuss a number of topics of common interest.

A Russian business delegation will visit Egypt in mid-January to review projects that could be implemented in the industrial zone.

During his visit to the UAE, Qabil held an expanded meeting with a raft of Russian and UAE officials, including Russian Trade Minister Denis Manturov, UAE Foreign Minister Abdullah bin Zayed Al Nahyan and UAE State Minister Sultan Al Jaber.

During the meeting, the Egyptian minister probed with the Russian and UAE officials the possibility of setting up Russian projects in Egypt via Russian-UAE investments.

The Egyptian-Russian talks tackled a number of topics, notably the Russian government readiness to build a logistic center for storing wheat in Egypt and exporting it to the neighboring countries, the minister stressed.

Also, the Egyptian-Russian discussions touched on the bilateral coordination to facilitate exporting Egyptian crops, especially potatoes and orange to the Russian market, according to the minister.

Qabil called on the Russian minister to allow registering all Egyptian dairy products to be exported to Russia.

Egypt has an interest to meet the Russian market' needs especially after the recent Russian economic sanctions on Turkey's agriculture products.

Sources: MENA