Egyptian-Russian commission starts activities in Cairo

The joint Egyptian-Russian Commission on Trade, Economic, Scientific and Technical Cooperation is scheduled to start its activities in Cairo on Sunday, Tass news agency reported.

The commission's three-day tenth meeting will be held under the auspices of Egyptian Trade and Industry Minister Tareq Qabil and his Russian counterpart Denis Manturov.

Representatives of about 60 Russia’s largest companies interested in the implementation of infrastructure projects in the energy sector, supply of machinery and equipment and transport in Egypt are scheduled to take part in the meeting.

The two sides are expected to sign a Memorandum of Understanding on the establishment of the Russian industrial zone in the area of the Gulf of Suez.

They are also expected to sign a memorandum between the Russian Direct Investment Fund (RDIF) and a number of Egyptian commercial banks as part of the project to set up the $5-billion investment fund of Egypt with the participation of the United Arab Emirates.