This would help the economic zone realize its target of creating 1 million jobs, according to the sustainable development strategy “Egypt Vision 2030,” Mamish said.In October, Mamish announced that negotiations between Egypt and Russia on the industrial zone have been successful. After that then the developer is free to start preparation.”Kabil further pointed out that he had the chance of meeting some 60 Russian companies who are interested in investing in the RIZ, including some big companies like Kamaz. “Between the developer and the companies, there are many companies who said yes we are interested. Russian exports to Egypt recorded $6.2 billion, while Russian imports from Egypt stood around $505 million, according to the Federal Customs Service of Russia.Breaking down the trade exchange between the two countries: Egypt imported wheat (23 percent of total Russian exports to Egypt) and metals (11 percent of total Russian exports to Egypt), at a value of $1.4 billion and $703 million, respectively. So eliminating barriers on the Russian side and on the Egyptian side improve the flow hence increase the trade level.

Source: Egypt Today May 24, 2018 12:56 UTC