Russia and Egypt are keen to step up preparations for the launch of the Russian industrial zone within the Suez Canal Special Economic Zone. Measures to accelerate the project’s implementation were discussed by Egypt’s Minister of Foreign Affairs, Badr Abdelatty, and Maksim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office of Russia and Special Presidential Representative for Financial and Economic Cooperation with BRICS countries. This was reported by Sada El-Balad, a partner of TV BRICS.
The meeting participants paid particular attention to the selection of a Russian industrial developer, as well as to making the most of the opportunities the project offers for expanding industrial and trade investment between the two countries.
In addition, the parties considered prospects for expanding cooperation in the fields of heavy industry, automotive manufacturing, digital transformation technologies and artificial intelligence. These areas are intended to facilitate the transfer of expertise and the localisation of technologies, as well as to open up new opportunities for partnership between Russia and Egypt in priority technology sectors.
The Russian Industrial Zone in Egypt is a special economic project located within the Suez Canal Special Economic Zone. It was previously reported that priority for establishment in the zone would be given to enterprises whose products are in greatest demand on regional markets. A key advantage of the project is its role as a hub for accessing markets in the Middle East, Africa and other regions.