Russian Industrial Zone In Egypt To Become 'Window' To Africa-Middle East Market -Official

Russian Industrial Zone in Egypt to Become 'Window' to Africa-Middle East Market -Official

The Russian industrial zone in Egypt will serve as a "window" for Russia's return to the markets of Africa and the Middle East, Russian Deputy Minister of Industry and Trade Vasily Osmakov said Wednesday.

CAIRO (Pakistan Point News / Sputnik - 12th December, 2018) The Russian industrial zone in Egypt will serve as a "window" for Russia's return to the markets of Africa and the middle East, Russian Deputy Minister of Industry and Trade Vasily Osmakov said Wednesday.

"Russia and Egypt have agreed that a Russian industrial zone in Egypt will serve as a 'window' for Russia's return to the African market ... The construction of this zone is a step not only to the Egyptian market, but also to the market of the Middle East and Africa," Osmakov said while speaking at the Russia-Africa panel session at the Intra-African Trade Fair.

The deputy minister also stressed that such zone should become interesting for partners from other African countries. The construction of the zone would mark the return of Russia as a strong economic, commercial and political player to the African market, he added.

The Intra-African Trade Fair 2018 is being held in the capital of Egypt on December 11-17.

On February 2, 2016, Russia and Egypt signed an agreement on the creation of the Russian industrial zone near the Suez Canal for the Russian companies oriented toward the markets of Egypt, Africa and the Middle East. It is planned that trucks, agricultural tractors, petrochemical and concrete products will be manufactured in the zone. In May, Moscow and Cairo signed an intergovernmental agreement to establish a Russian industrial zone in Egypt's Port Said near the Suez Canal.