Egypt, Russia keen to push economic ties to new high

CAIRO, Dec. 11 (Xinhua) -- Egyptian President Abdel-Fattah al-Sisi and his visiting counterpart Vladimir Putin discussed on Monday the steps to boost economic cooperation and establishment of Russia's industrial zone in Egypt.

After their meeting at Ittihadiya Palace in Cairo, both leaders held a joint press conference addressing the results of their discussions.

During the press conference, Sisi said he discussed with Putin means of fostering bilateral relations especially in industry, food security, trade and investment in Egypt via establishing a Russian industrial zone in the Suez Canal Economic Zone (SCZone).

He said they agreed to assign ministers concerned to follow up the files and solve any problems that may hinder the establishment of the projects in order to be completed in the near future.

The Russian president described his talks with his Egyptian counterpart as constructive and rich in substance.

Putin said plans have been set for future mutual cooperation, stressing the importance of continuing negotiations in terms of establishing a free trade zone between Egypt and the Eurasian Economic Commission.

They also expressed keenness on joint efforts in the energy field, especially in the fuel sector.

Putin stressed that Russia is keen on fostering friendly and cooperation relations with Egypt as Egypt is Russia's old and trusted partner in the Middle East region and North Africa.

Putin added that the volume of bilateral trade exchange has increased by half during the past nine months, reaching more than four billion U.S. dollars.

Before their press conference, Sisi and Putin also witnessed the signing of an agreement to build Egypt's first nuclear power plant. Enditem