Kabil heads to Moscow for joint committee meetings with Russia

Big 5

Leading Egypt’s delegation are set attend meetings of the 11th joint economic cooperation committee with Russia, Trade and Industry Minister Tarek Kabil head for Moscow Tuesday.

The Russian industrial zone in Egypt is on the top list of the topics that would be discussed during the committee’s meeting, the minister said.

The Russian Industrial Zone in Egypt, located in East Port Said and built on a 5.25 million square-meter plot of land over three phases, has been under negotiation between the two countries since 2014.

Meanwhile, the 11th session of the committee is set to focus on Egyptian-Russian cooperation in the fields of economy, trade, industry, energy, education, agriculture, IT, health, transport and tourism.

On the other hand, Participants will also tackle non-tariff barriers that hinder smooth trade exchange between the two countries, he added.

The committee is also set to resume talks on the return of Russian tourism to Egypt, the minister noted.

As of January 2018, current Russian investments in Egypt were estimated at $66.49 million from 424 companies in the fields of tourism, construction, industry, communications, information technology, and agriculture.

The two countries have been aiming to bolster economic ties along their shared interests within the framework of their strategic relationship.