Russia's Deputy Minister of Industry and Trade Gleb Nikitin is due in Egypt on Wednesday leading a large delegation representing 35 companies to review means of establishing a Russian industrial zone in Egypt.

In statements to MENA on Tuesday, Russian Trade Representative in Cairo Lukashin
Fedor said Nikitin will hold a series of talks with a number of Egyptian ministers concerned on a draft agreement on establishing the Russian industrial zone.

The agreement is expected to be signed this year, Fedor said.

The Russian zone falls within the framework of the Suez Canal development project, he added.

The zone is deemed as one of the most important projects between Egypt and Russia, he said.

Egyptian President Abdel Fattah El Sisi suggested establishing the zone during his visit to the Russian city of Sochi in 2014.

In February 2016, the 10th session of the Egyptian-Russian governmental committee inked a memorandum of understanding for cooperation in the trade, economic, scientific and technical scores.

Nikitin's accompanying delegation will visit Egyptian infrastructure projects, he said, noting that the delegation would comprise representatives from companies operating in the fields of pharmaceuticals, auto-feeding, railways, nuclear energy and petroleum and natural gas equipment.

Source: MENA