As for the Russian Industrial Zone (RIZ), look for contracts establishing it to be signed in March, spokesperson for the Russian Industry and Trade Ministry Zalina Kornilova said on Tuesday, according to Russian news agency RIA Novosti (Russian). Both governments have agreed on a draft of the intergovernmental agreement which would set up the RIZ in the Suez Canal Economic Zone, she added. “At present, the Russian and Egyptian sides are carrying out the necessary internal procedures for the possible signing of an agreement on the margins of the 11th meeting of the joint Russian-Egyptian commission for trade, which will be held in Moscow in early March,” said Kornilova. Trade and Industry Minister Tarek Kabil will be attending the meetings, according to the statement. Russian President Vladimir Putin had said in December that he expects Russian investments in the zone to reach USD 7 bn after generating the interest of some of Russia’s leading corporations.

Tags: