Egypt, Russia sign cooperation agreements

Egypt and Russia signed a number of deals at the end of the three-day meetings of the Egyptian-Russian Commission on Trade, Economic, Scientific and Technical Cooperation, Egyptian Trade and Industry Minister Tareq Qabil said on Tuesday.

At a press conference with his Russian counterpart Denis Manturov, Qabil said the deals included the establishment of a Russian industrial zone on an area of two million meters in eastern Port Said.

Also, a memorandum of understanding was signed between the two countries to import 10 airplanes from Russia, Qabil added.

Russia has praised efforts exerted by the Egyptian government to overcome obstacles facing Russian investors in Egypt, he noted.

Manturov praised relations between Egypt and Russia, and stressed that the coming period will witnesses the signing of more agreements between the two countries in all fields.

The Russian industrial zone will contribute to developing Egyptian industries and transferring modern technology into the Egyptian market, he said.