Egypt expects agreement on Russia’s industrial zone to be signed shortly - ambassador

MOSCOW, January 24. /TASS/. Cairo expects the agreement on creation of a Russian industrial zone in Egypt to be signed in the near future, the country’s Ambassador to Russia Ihab Nasr said in an interview with TASS on Wednesday. "I expect the agreement to be signed in the near future," he said. "We are convinced that when implemented this project will substantially contribute to expansion of our relations and change the pattern of cooperation," the diplomat added. The decision to build a Russian industrial zone in Egypt was agreed by President Vladimir Putin and his Egyptian counterpart Abdel Fattah al-Sisi during talks in Sochi on August 12, 2014. The project envisions a new industrial zone with eased tax regime to be established for Russian resident companies on the territory of the Port Said free economic zone. Read more