Moscow-Cairo Sign Additional Agreement On Russian Industrial Zone In Egypt- Trade Minister

CAIRO (UrduPoint News / Sputnik - 20th March, 2023) Moscow and Cairo signed an additional agreement on the Russian Industrial Zone in Egypt that will allow Russian companies to sell products not only in third countries, but also on the Egyptian market, Russian Minister of Industry and Trade Denis Manturov said on Monday.

"We have specified a new site, including a number of other changes that allow us to sell products manufactured in this zone on the Egyptian market, which is very important for colleagues and our companies first of all," Manturov said, answering a question about the new agreement.

The document also provides for a territory increase of the industrial zone by 50 hectares (123 acres) in addition to the main site.

"This is 50 hectares, in addition to the 500 hectares, that will be developed in the future after reclamation," Manturov added.

The document was signed in Cairo following a meeting of the Russian-Egyptian commission on trade, economic, scientific and technical cooperation.