Germany's Lilium, Swiss firm expand to France    UNICEF calls for increased child-focused climate investments in drought-stricken Zimbabwe    Chad faces growing food insecurity crisis amidst multiple challenges, UN warns    Egyptian universities to adopt 'Fundamentals of FinTech' course in groundbreaking move    Egypt's CBE offers EGP 60b in T-bills on Sunday    CBE sets new security protocols for ATM replenishment, money transport services    S. Korea plans $7.3b support package for chip industry – FinMin    WHO warns of foodborne disease risk in Kenya amidst flooding    EGP slips against USD in early Sunday trade    SoftBank's Arm to develop AI chips by 2025    State mobilises resources to boost private sector as economic growth driver: Finance Minister    Elevated blood sugar levels at gestational diabetes onset may pose risks to mothers, infants    Hurghada ranks third in TripAdvisor's Nature Destinations – World    President Al-Sisi hosts leader of Indian Bohra community    China in advanced talks to join Digital Economy Partnership Agreement    13 Million Egyptians receive screenings for chronic, kidney diseases    US Embassy in Cairo announces Egyptian-American musical fusion tour    Japanese Ambassador presents Certificate of Appreciation to renowned Opera singer Reda El-Wakil    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Climate change risks 70% of global workforce – ILO    Prime Minister Madbouly reviews cooperation with South Sudan    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt and Russia sign cooperation agreements
Agreements regarding the Suez industrial zone, aviation imports but no concrete schedule provided as to when projects will commence
Sara Aggour Published in Daily News Egypt on 02 - 02 - 2016

Several agreements were signed between Egypt and Russia on the construction of a joint industrial zone in Suez, Minister of Industry and Trade Tarek Qabil announced following the signing of the agreement.
The signing took place between Qabil and his Russian counterpart Denis Manturov.
"We are still studying what the projects will be and how they will be financed," Qabil said.
The agreements also tackled future cooperation in pharmaceuticals and construction materials.
Another agreement will be signed for the importation of 10 aeroplanes, six of which will be used for internal transportation, Qabil said. He did not specify what the four other aeroplanes will be used for, but stated that they will be purchased by Russia and leased to Egypt.
The Egyptian and Russian ministers met with Egyptian President Abdel Fattah Al-Sisi for two and half hours, during which they discussed the future of projects between the two countries.
In May, Russia, the UAE and Egypt formed a joint investment fund. The fund is expected to financially support industrial projects between the three countries. The value of the fund is around $1.9bn. Egypt's financial share in this fund is yet to be specified.
The fund finances will come from a number of Egyptian institutions, as well as the Russian Direct Investment Fund (RFPI) and the sovereign wealth fund of Abu Dhabi (Abu Dhabi Investment Authority) for the UAE.
A Russian delegation comprised of 60 companies and headed by Russian Minister of Trade and Industry Denis Manturov is currently visiting Egypt.
Manturov met with several ministers from the Egyptian cabinet's economic committee, including Minister of Investment Ashraf Salman, Minister of Supply and Internal Trade Khaled Hanafy and Minister of Manpower and Immigration Gamal Sorour.
Manturov also met with Egyptian Minister of Defence Sedky Sobhy early on Tuesday to discuss possible military cooperation.

Clic here to read the story from its source.