Moscow hopes to agree with Cairo to create Russian industrial zone in Suez Canal area
MOSCOW. Aug 6 (Interfax) - The Russian authorities are hopefully that by December they will be able to reach an agreement with Egypt concerning the signing of a bilateral memorandum of mutual understanding and a roadmap to establish a Russian industrial zone in the Suez Canal area, Russian Prime Minister Dmitry Medvedev has said.
"Our companies are ready to take part in these economic projects [to develop the new Suez Canal]. One of the first steps there could be the creation of a Russian industrial zone in the Suez Canal area," Medvedev said in an interview with Egypt's Al-Ahram newspaper ahead of his visit to Egypt.
At the moment, this topic is being vigorously discussed at the ministerial level, and work is also under way on a concept for this project bearing in mind the needs of the market in Egypt, other Middle East countries and African states, he added.