Industrial zone in Egypt to open markets: Russian minister

CAIRO – 11, July 2017: Russian industrial zone in the Suez Canal Economic Zone (SCZone) will allow Russia to reach African markets, Russian Deputy Minister of Industry and Trade Georgy Kalamanov said Tuesday.

"It is a platform for Russian products to enter not only Egypt [market], but also other African countries. I see it as a hub. I believe it is a first stage in shaping basic platforms for spreading Russian goods in African countries,” Russian state-owned news agency Sputnik quoted Kalamanov as saying.

In February 2016, Egypt and Russia signed a deal to establish an industrial area for Russian products in the SCZone.

Egypt is currently developing an SCZone, which will include an industrial zone, fish farming and agricultural projects.

The industrial zone comprises enterprises in food processing, packaging, car and equipment assembling, a tourist city and other sectors. The planned investments will also include a road network connecting areas in the industrial axis.