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Russia and Egypt to Embark on Free Trade Zone Print E-mail
by Tom McGregor    Wed, Aug 13, 2014, 02:46 AM

 Moscow and Cairo are setting the stage to create a Free Trade zone for Russia and Egypt.

Russia Today reports that, "Egypt and the countries of the Customs Union are looking into creating a free trade zone, Russian President Vladimir Putin said after meeting with his Egyptian counterpart Abdel Fattah al-Sisi at the Black Sea city of Sochi."

Putin is quoted as saying that, "An important agreement was reached to establish cooperation between Egypt and the Customs Union [of Russia, Belarus and Kazakhstan]. And now we are looking at a possibility of creating a free trade zone."

According to RT, "He noted that this subject had been discussed at a meeting of the council of the Common Economic Space on July 7. The two presidents also agreed upon the creation of a Russian industrial zone in Egypt, which will be part of a new Suez Canal project."

The Russian military will have greater access to the Suez Canal.

To read the entire article from Russia Today, link here:

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