Egypt invites US investment in ports, shipping, and rail sectors    Finance Ministry launches €10M fund to support PPP project preparation    Public Prosecution to transfer 200kg of refined gold to CBE: Shawky    Egypt inks $121m oil, gas exploration deals with Apache, Dragon Oil, Prenco    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Emergency summit in Doha as Gaza toll rises, Israel targets Qatar    Egypt renews call for Middle East free of nuclear weapons، ahead of IAEA conference    Egypt's EDA, Korean pharma firms explore investment opportunities    Egypt's FM heads to Doha for talks on Israel escalation    Egypt strengthens inter-ministerial cooperation to upgrade healthcare sector    Egyptian government charts new policies to advance human development    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.